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Has new individual donor landscape changed your financial infrastructure? HOW?
As this article Analyzing Fundraising in an Uncertain Economy — in 5 Charts (philanthropy.com)yesterday in the Chronicle of Philanthropy reinforces, the landscape of individual donations is changing relatively rapidly. Their article focused on observations from fundraisers but what issues do these and other shifts bring up for financial leaders in terms of projections, and infrastructure both internal and contracted? We’d love to hear from nonprofit financial leaders about how you have changed your systems over the last five or ten years to adjust for all of that. What’s the biggest change you have made and in response to what trend in individual giving? What vendors and partners have figured big in your response? YOUR ADVICE FOR PEERS WILL BE GREATLY APPRECIATED!
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1 Reply
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The changing donor landscape seems to have made financial forecasting rather more adventurous. I think one important shift is bringing fundraising and finance data closer together so projections are based on current donor behaviour. Better connections between fundraising platforms and accounting systems can save plenty of manual work. I would also favour regular forecasting rather than waiting for the annual budgeting exercise. Different income scenarios can give leaders a much clearer picture of what might happen. Technology helps, but clean and timely data remains the real star of the show.
