Measuring Your Non Profit Success
The definition of success can be very different from the viewpoint of a nonprofit’s leadership, membership, donors and volunteers, or others that benefit from the services provided. The ability to measure and monitor key metrics, by using outcome metrics, can highlight the very data you need to optimize funding, show accountability, and be good stewards to those you serve. Demonstrate a successful nonprofit organization by choosing the right metrics and monitoring them with the proper technology.
How do you know that your nonprofit organization is as successful as you think that it is? You may have a gut feeling or receive good feedback from supporters, but when it comes down to it, you need data to illustrate success. External stakeholders, constituents, charity evaluators, members and supporters often request information that shows nonprofit accomplishments. They may request membership figures to verify membership is increasing, for example, or financial reports that show you are fulfilling grant program guidelines and are fiscally responsible. Download “Outcome Metrics: Measuring What Matters in the Nonprofit World,” an eBook, to learn how to use outcome metrics to share important information with your supporters efficiently and effectively.
Measure both Financial and Non-financial Performance
Many nonprofits are using outcome metrics to highlight successes in an organized, definitive way. A set of key metrics can be chosen to illustrate financial and non-financial operational performance. For example, you can monitor your program’s efficiency by capturing program services expenses and overhead expenses. By dividing program services expenses by total expenses, as noted in the eBook, you can determine the program efficiency which can be an indicator of program and mission priority. Similar calculations can show revenues per member or fundraising efficiency.
Capturing and evaluating the data that you generate each day isn’t as difficult as it may seem. You simply need the right technology. An integrated management solution, such as Intacct, offers time-saving automations that can streamline data entry and offers robust business intelligence and reporting features that make it easier to analyze and share data. Not only can you strengthen internal operations and plan for the future, you can also satisfy the demands from external stakeholders and supporters.
Share your nonprofit successes and gain the trust of more supporters. Download the eBook and contact SSi Consulting for more information about choosing the right technology, the right metrics, and using an outcome metrics program to illustrate nonprofit success.
By SSi Consulting, Certified Intacct Partner with offices in DC, Maryland & Virginia