Section 5: Good news on horizon –the future looks bright!
While 2020 was a challenging year, the data reveals growth, flexibility and quickness in recovery efforts. Nonprofits are adept at overcoming obstacles to serve their community and missions and will continue to do so no matter what the challenges.
Much of the data reflects a path of resiliency that has been paved from 2020 to the present. On this path the data, both qualitative and quantitative reveals a story of overcoming, marching on and ensuring value in donor relations, fundraising and usage of grants.
As respondents continue to gather new and innovative ways to fund raise, and respond to other growth challenges, their communities benefit from this as well.
Where do we go from here on this path of resiliency? What compass should we follow onward to success?
Here are some tips from us to you as we walk together on this resilient path.
1. Ensure your reporting capabilities accurately reflect all that you’re doing in your community to grantors. Use more data points, not less. Be specific. Be quantitative.
2. Prepare for the worst so that even if it happens, you’re still able to maintain and grow (as we’ve seen evidenced by this survey’s results).
3. To get growth, you have to plant and root the seeds to germinate. That includes ensuring your technology is serving your mission, ensuring there is adequate risk protection and ensuring that your technology will grow with you as you grow.
4. Creatively expanding your fundraising opportunities will help you weather whatever storm may come. Your donors will flex with you, as long as you empower them with the tools they need to donate to your mission.
5. Explore and consider what technology shifts you might be able to make incrementally that will overall serve your mission long-term.
6. Ask for more. Be bold in your asks to granting foundations, collaborate with your fellow non-profit peers and find ways to showcase your story.
Put the insights from the 2021 Nonprofit Financial Health Finance Study into practice.
Explore how MIP can help your nonprofit, maintain financial health with operation efficiencies.
Request demo
https://www.mip.com/demo/
Survey methodology
This study was commissioned by MIP Fund Accounting and Community Brands.
The survey was conducted online during December 2020 and January 2021 in collaboration with Finn Partners with quotas set so the survey is representative of key demographics. We surveyed N=236 nonprofit financial professionals across verticals including social services, education, healthcare, human services, government, public and societal benefit. Eighteen percent of respondents were under 40, forty-two percent between ages 40-55, and thirty-six percent age 56+.
About MIP:
MIP Fund Accounting® is the gold standard for true fund accounting and an industry-leading solution from Community Brands. As a comprehensive, configurable solution, MIP enables associations, nonprofits, K-12 schools, and government entities to better achieve their missions by providing complete financial oversight and robust payroll and human resource management solutions. Organizations can make better financial decisions, track, report, and manage finances, and execute financial management with greater precision. For more information, visit: http://www.mip.com.
+1.800.811.0961
mip.com mip@communitybrands.com
