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While no charity would ever turn down money from a donor, it’s true that non-restricted funds are favoured by charities
It’s no secret that strong financial management and careful forecasting is critical to sustainability in the voluntary sector. However, a recent piece of research conducted by Cass Centre for Charity Effectiveness, showed that small charities often exist in a survival mind-set.
Many charity finance professionals share a common problem. The ability to complete their annual accounts without resorting to the cumbersome task of manually analysing transactions offline in a spreadsheet.
As a non-profit, return on investment (ROI) and budgets are often watched closely. Because of this, investment in new technology like data analysis may not always be top priority. However, using data is critical for non-profits. Its use can have a huge impact on ROI, operational efficiency and marketing effectiveness – with significant knock-on effects on your bottom-line.