Nonprofit organizations are not regulated like private or public organizations; nonetheless, they hold the same expectations when it comes to governance as other public entities. Since manual board management takes too much time for nonprofits, you should consider taking it to the whole next level with board portal software. Let’s evaluate the potential benefits of this decision.
How does the virtual boardroom improve the performance of board members?
Efficiency is a valuable commodity for every business entity because board directors and trustees have so much to take care of, from enhancing the engagement of team members to keeping track of ongoing and future projects.
Moreover, virtual board software also aids in raising funds, creating financial reports, and keeping track of funds which in turn are considered vital assets for seeking donations and grants. That’s because donors prefer collaborating with organizations that hold a good repute in the market.
Board management software: The best tool for accurate financial reporting
Keeping accurate and up-to-date financial records is imperative for all firms as they help you strategize market-oriented policies. However, maintaining and evaluating financial reports can be a little daunting task, particularly for the directors, as they have a lot more on their plate.
Fret not: the https://board-room.org/ has everything businesses need to keep up with the evolution in tech.
Board portal software boosts fundraising efforts
Nonprofit organizations are always on the hunt for funds, and they spend most of their time doing fundraising activities. That’s where the board portal comes in very handy because it can automate much of the work for the organization. From raffles or auctions to matching donations to providing a secured platform for accepting and managing donations, and a lot more.
Tips to engage your board members as fundraisers
Here’s what you can do about building a board of effective fundraisers:
1. Set expectations from the beginning
Be realistic and upfront from job descriptions to assessment to interview calls and to when finally signing the contract. Be clear that you expect existing members and new members to fundraise. Educate them about the importance of fundraising events.
2. Take board members onboard in setting goal
Yes, taking everyone onboard prior to setting fundraising goals for the year ahead plays a crucial role. You need to dedicate considerable time, especially when it comes to discussing the financial picture with board members for the coming year. Everyone on the board should know about the projected expenditure and how you plan to raise funds.
3. Pick a leader to lead board development
Fundraising is one of the many responsibilities of the nonprofit board of directors and trustees. However, things don’t always go the way we want them to. So what to do about it?
To provide your board with a structure and keep them engaged, create a committee that would only deal with fundraising activities and appoint a fundraising director who would lead the team. Always take your fundraising director onboard in every meeting to keep communication channels open so everyone can be on the same page.
4. Give resources to the board members they need to achieve the goals
Providing a collaborative and 100% engaging platform will be of no use if you fail to provide board members with the resources they need to fundraise successfully.
You can start with the following:
- Make a list of potential donors.
- Set a realistic goal.
- Create a good CTA (call-to-action) statement.
- COMMUNICATE, COMMUNICATE, & COMMUNICATE (putting donors at the center of donation appeal).
- Write a personal thank you note for donors.
- Stay in touch with everyone, give regular updates.
5. Be ready to cultivate new donors on their behalf
As the other team members start bringing new donors or even introducing them to you from their networks, you should have a plan in order to build a good relationship with them. Albeit you can create a personalized message or make a phone call, adding them to your database would do the magic. And that’s exactly what the board portal does for you – keeping an open line of communication for all. Also, by doing this, you are indirectly putting your company in a better position and can ask for donations again.
6. Give credit where credit is due: Your board members need recognition they deserve
Don’t forget to credit your team members because positive reinforcement not only helps in building trust but motivates them to do better in the future. So, when the board members introduce you to potential prospects or secure a donation, always reach out to them and tell them how important they are to your organization.
Takeaway
Almost every NPO (nonprofit organization) that has an eye for the future needs board portal software because it allows you to stay on the cutting edge work of NPO. However, a board that isn’t only well prepped but passionate enough towards the strategic goal of the organization is key to successful fundraising.
