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When it comes to fundraising, it's all about the numbers.
But when it comes to data, it's all about " cultivating data excellence."
That's what Forbes is calling the next big thing in fundraising, a way for nonprofits to harness the power of data to make more informed decisions and, in some cases, actually increase their fundraising.
Here are some of the best practices you can follow to get there: Data governance: It's important for nonprofits to have clear, ethical policies in place for the sensitive data they handle, as well as HIPAA and General Data Protection Regulation requirements for privacy and access control.
Data integration: It's important for nonprofits to have a system in place that allows them to work with data from other sources, such as artificial intelligence (AI) applications.
Conduct a comprehensive data audit: This will help figure out where the data comes from, who has access to it, and how it's being used.
Document and communicate these policies across the organization to make sure they're up to date and consistent.
Allocate a budget for ongoing maintenance: It's vital that nonprofit staff members regularly upgrade their data skills through ongoing training.
Partner with a data expert: If you can't find an expert on your own
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
Foundation: Headwaters Foundation for Justice, MacArthur Foundation, Marguerite Casey Foundation, Marguerite Casey Foundation
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When it Comes to Social Enterprises, Failure is the Best Platform for Innovation
In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.
