Aug 26, 2021
5 Metrics Your Board Really Cares About
Nonprofit leaders and their Board members are joined together by cause-driven initiatives that seek to deliver social impact. One of the most essential initiatives, if not most important, is the organization’s fundraising strategy. Fostering a culture of fundraising and identifying ways to measure program effectiveness are critical to your nonprofit’s success.
We recognize that you don’t always get the time to analyze fundraising campaigns and set a course for what you can do differently for the next campaign. That’s why we recently polled fundraising professionals and Nonprofit Board members to glean insights on what key metrics demonstrate impact (beyond the dollars raised) and how they can help inform delivering progress towards ongoing fundraising and donor engagement goals. Here are the top 5 metrics:
1. SROI (Social Return on Investment)
A relatively new and more insightful way to measure the impact that a nonprofit has on a community; SROI involves a double bottom line that takes into account the financial performance of a campaign along with the resulting social effect the dollars delivered.
2. Impact Growth
Growth in impact over a certain time period (month over month, quarter over quarter, year over year) requires proactive goal setting and ways to measure the change. Having a record of the number of benefactors and a list of support factors (i.e. monetary, goods and services) offer a measurement base to easily build impact growth models.
Engagement factors can be measured by the number of activities and behaviors such as newsletter sign ups, social media followers and sharing, peer to peer fundraising participation, event attendance, and advocacy awareness building, among others.
Boards are now asking, to what degree of influence does the organization have on solving issues in comparison to others? To answer this question, progressive nonprofits are using a Klout score between 1 – 100 to measure how influential their organization is in addressing an intended issue.
How do you grow fast enough to meet the growing societal needs? The power of fundraising software technology gives you the ability to scale up quickly, reach a larger audience and tell your story in more dynamic ways.
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