Many nonprofit organizations are turning to outcome metrics to show accountability and transparency with operations, as well as successful outcomes for the programs and services that are offered. Outcome metrics can also highlight new ways to increase funding and strategize growth. Strengthen operations and position your business for sustainable growth by leveraging outcome metrics to your advantage.
Nonprofit organizations that are able to harness data can then use that information to grow stronger, more efficient, and get closer to the mission. Outcome metrics are being used by many successful nonprofits and involves choosing key metrics to measure operational and financial performance. Download “Outcome Metrics: Measuring What Matters in the Nonprofit World,” an eBook from Intacct, to learn how outcome metrics can deliver value when they are linked to strategic plans, core values, and the mission. Below are three important ways outcome metrics are being used:
- Funding: Donors, benefactors, supporting foundations, and granting authorities want to see transparency and evidence of fiscal responsibility. Showing income and revenues, balanced against planned and actual budgets, can demonstrate financial responsibility. By following grant guidelines, for example, you can user multi-year grants.
- Accountability: Supporters want to see results, whether they are volunteers, donors, or supporting organizations. Showing fiscal responsibility, in addition to program successes, also shows accountability. You can highlight outcomes, such as meals served or membership growth, and show that you are getting closer to strategic goals or the mission. With reliable reports that show these successes, you can strengthen your reputation and gain additional support.
- Stewardship: Fiscal responsibility and successful program outcomes can improve supporter confidence and strengthen your credibility within the industry or community that you serve. Outcome metrics can also play a significant role with showing where you are as a nonprofit, where you want to go, and can generate the support you need to get there.
A strong outcome metrics program requires strong data, which you can’t get from entry-level software or elaborate spreadsheets. Modern management solutions are affordable and can be deployed quickly. Download the eBook and contact SSi Consulting for guidance with choosing a management solution that is aligned with your unique needs and creating an outcome metrics program that can strengthen operations and drive growth.
By SSi Consulting, Certified Intacct Partner with offices in DC, Maryland & Virginia
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