Can the Web Help Raise Money for Nonprofits?

In an effort to cut overhead costs and better target donors, nonprofits are venturing into the world of technology. In an industry where raising a dollar from a new donor can cost a nonprofit $1.20 to $1.50, the internet provides opportunities to focus more on distributing funds raised, and less on covering administrative costs.

Convio, a company specializing in the development of software for nonprofits is planning on signing up a few charter charities to test its new web service. The service can help nonprofits target donors, develop relationships and keep them regularly updated on the status of the charity without incurring the internal paper and mailing costs.

While donors can often be extremely generous in the checks they write to a nonprofit, concerns still abound regarding what the charity is spending just to keep the donor in the know. The plan is for nonprofits to maintain RSVP lists for fundraisers, send out event reminders and take on-line contributions as well as tracking those contributions without the additional administrative costs.

Convio maintains that purchasing their service is cheaper than bringing on new staff to keep up with administration activities.

You may like these other stories...

British financial watchdog to investigate Tesco accounting scandalBritain’s financial watchdog, the Financial Conduct Authority (FCA), has launched a full investigation into the Tesco accounting scandal that has now...
As two of the accounting world's major governing bodies—the FASB and the IASB—converge, they're scrutinizing how businesses track lease expenses. Under existing accounting standards, a majority of leases...
2014 has marked the fifth consecutive year in which the percentage of US-based internal auditors who earned bigger paychecks increased, according to a new study from the Institute of Internal Auditors (IIA).This year, 92...

Already a member? log in here.

Upcoming CPE Webinars

Oct 9In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards.
Oct 15This webinar presents the requirements of AU-C 600, Audits of Group Financial Statements (Including the Work of Component Auditors).
Oct 21Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience’s communication style.
Oct 23Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.