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...

Credit Suisse says pension assets at risk unless court delays sentencingJohn Letzing of the Wall Street Journal reported on Wednesday that Credit Suisse Group AG says its management of billions of dollars in assets for...
The prospect of International Financial Reporting Standards (IFRS) being fully adopted in the United States in the near future are growing less likely, as the Financial Accounting Standards Board (FASB) and the International...
House proposes $10.5B, eight-month highway billThe House Ways and Means Committee proposed a transportation funding bill on Tuesday that calls for a temporary extension of current transportation funding levels until May 31,...

Upcoming CPE Webinars

Jul 16
Hand off work to others with finesse and success. Kristen Rampe, CPA will share how to ensure delegated work is properly handled from start to finish in this content-rich one hour webinar.
Jul 17
This webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described below.
Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.