Pandemic Fundraising Should Not be Devastating

If you run a nonprofit, it is no secret that 2020 has been the most challenging year than any other in history. Many leaders in the nonprofit sector are concerned about the adverse impacts of the COVID-19 pandemic on their fundraising efforts. Many have had to cancel their events while companies and individuals who would have potentially helped with the contribution have been rendered broke. Although it is overwhelming to run a nonprofit in 2020, especially for those who are in leadership positions, there are some few things you can do to reduce the challenges brought by the pandemic. Here are some things that top nonprofits are doing, and you should consider too when running a nonprofit in a current environment.

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Tech Trends in Fundraising: 2020 and Beyond

To improve efficiency, reach and engage wider audiences and drive donations, forward-thinking nonprofit leaders are turning to the latest technology tools to fuel fundraising efforts and reduce the inefficiencies and costs associated with current siloed systems. This is highlighted in a recent survey from global accounting firm BDO, which found that 75% of nonprofit CEOs and presidents plan to invest in new technologies this year.

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Update Your Strategies to Include More Social Media Efforts

The power of social media cannot be overemphasized. It plays a critical role in different industries and is a vital component in fundraising strategies for any modern nonprofit organization. A good presence of your nonprofit in social media will not only help you in reaching more people but will also aid you in fostering your community of donors. Furthermore, a successful social media presence has a direct correlation with the amounts raised.

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Special Report: Fund Accounting, The Cloud and Accountability

The Internal Revenue Service estimates that there are more than 1.5 million organizations in the United States that qualify as tax-exempt under Section 501(c) of the US Tax Code.  That’s a decline of some 22 percent over 2010 levels, and despite a recent increase in applications for some types of tax-exempt entities, it is clear that the challenges facing Nonprofit organizations are intensifying.

  • 42% of survey respondents report that they do not have the right mix of financial resources to thrive and be effective in the next 3 years.
  • 1 in 4 nonprofits has 30 days or less cash-on-hand.
  • Over the next twelve months, 39% plan to change the main ways they raise and spend money.
  • 23% will seek funding other than grants or contracts, such as loans or investments.

Fund Accounting Special Report Sponsored by: Accufund  

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