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Category Archives: Nonprofit

Endowment Accounting Survey Should Raise Some Eyebrows

Endowment Accounting Survey Should Raise Some Eyebrows

More and more nonprofits are looking to endowments as a means to diversify their sources of funding. Endowments have long been a favorite funding tool for institutions of higher learning. Whether a nonprofit is new to endowment management or has been managing endowments for decades, a recent survey commissioned by AccuFund and conducted by Nonprofit-PRO shows some interesting statistics.

Endowment Accounting Survey

Over a third of the recipients are handling endowment accounting with Excel and Quickbooks. Another 25% must find a way to manage endowment accounting on the accounting system used by their organization for general accounting. A mere 9.5% of the organizations surveyed have a solution specific to endowment management.

It’s remarkable that managing and tracking such an important aspect of an organization’s funding strategy is done without the benefit of a specialized software solution. Beyond being inefficient, it doesn’t put the organization in a position to best serve their constituents.

Endowment Accounting SurveyDonors want more transparency. The departments depending on the funds generated by the endowments don’t have easy access to and visibility of available funds. Evidence of this is the survey’s findings on the frequency of periodic fund statement reports provided to donors. Less than 50% of the respondents provide reporting on an annual basis. Only 23% are providing reporting more than once a year, and a startling 17% said they never provide periodic fund statement reports to donors.

With competition for donors becoming more acute with each passing year, it’s time that organizations invest in the technology that allows them to provide the information reporting that could convince a donor to support the endowment. I think the door should be closed on the “we’ll just manage as best we can with what we have” mindset. Managing by spreadsheet is not the optimal way to manage multi-million dollar endowments, let along attract more gifts.

More of the survey’s findings can be found here.

Why Nonprofits Need to Invest in Fund Accounting Technology

Why Nonprofits Need to Invest in Fund Accounting Technology

When applying for grants, all nonprofits face fierce competition. A recent survey of nonprofit executives reported that a major concern among nonprofit leaders was the concurrent increase in demand for nonprofit services and decrease in available funds for services. Accelerate Grants for fund accounting are available in 2015 Simply put – fewer grants means heightenedContinue Reading

Extremes

Living in Central Texas conditions are regularly extreme.  Extreme heat.  Extreme thunder storms.  Extreme ice storms. In the fall, usually a break in the triple digit weather punctuates the end of summer.  This year, following a record-breaking, extreme drought, devastating fires are punctuating the end of summer. There are grim news stories and alerts –Continue Reading

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Dawn’s World Weekly News 01 07 2011

A summary of things that caught my interest this week: These resolutions were written with nonprofits in mind, but they are excellent resolutions for any business – Consider These 5 Resolutions for your Nonprofit from @jmtconsulting. A big part of all the marketing plans I’m involved with is email marketing, here is a nice articleContinue Reading

What Do Your Donors and Customers Think about Your Scrimping?

The old saw “penny wise and pound foolish” is a favorite of mine.  But then I am a marketing person – bent on spending money and killing trees. (A joke.) A number of years ago, I was at a DMA Not-for-Profit Conference where a presenter was talking about the difference between Baby Boomer donors andContinue Reading

Nonprofits, Facebook, Best Practices, and What a Difference It All Can Make

This is a guest post by Megan Knight, intern at Dawn Westerberg Consulting LLC Facebook is an internet phenomenon, with over 500 million active users; it is the largest social networking site to date.   Not only is Facebook populated, but it’s utilized.  Each month, a reported average of 700 billion minutes is spent on theContinue Reading

Social Media & Nonprofits: How Social Media Can Help

This is a guest post by Megan Knight, intern at Dawn Westerberg Consulting LLC If you work for a nonprofit organization you know how tough it can be to get your organization’s mission across to the thousands of people that need to hear it.  Most nonprofits struggle with tons of limitations ranging from financial constraintsContinue Reading

Dawn’s World Weekly News 09 24 2010

A summary of things that caught my interest this week: Fascinating  infographic of the racial division of 40 U.S. cities. Nonprofits lead the way in Social Media deployment. Good post written by @RLMadMan on @pushingsocial ‘s blog:  How to blog with Power Speaking of power, I also enjoyed How to build a content time bomb.Continue Reading

Looking for blogs writing for Nonprofits

Hey Nonprofits, I need and welcome your help. I’d like to know which blogs you enjoy and find helpful.  You. Personally. A Google search will give me a list of the big ones.  That’s fine.  They’re very good. But I’d also like to uncover some blogs that, while producing quality articles, may serve a smallerContinue Reading