Modern Fund Accounting Software–The Gift that Keeps Giving
According to BDO’s Nonprofit Standards benchmarking survey, half of nonprofits reported declining revenue or funding is a high-to-moderate level challenge, and 36% said finding new sources of funding was their top priority during 2019.
Nonprofit donors make some of the toughest stakeholders of any industry because the stakes are much higher than just profits. Nonprofit programs impact the wellbeing and happiness of people around the world. To keep donors engaged, nonprofit finance leaders must provide a complete picture of the impact donations make in driving the mission.
Whether your nonprofit is faith-based, a foundation, an association, a healthcare provider, or social services, or other organization, you need the advantages that modern fund accounting software solutions can provide, including activity-based budgeting and real-time visibility. Today’s donors expect incredible levels of transparency. It’s hard to tell a comprehensive story about your organization’s mission if you are constantly searching for data in multiple spreadsheets or an outdated accounting system.
Written By Nancy Master
February 13, 2020