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beTrue Bulletin: May 10, 2013

In this week’s bulletin we’ve found cause for celebration as the class of 2013 accepts their hard-earned diplomas and LinkedIn turns 10! But first, we continue our conversation about Twitter in Advancement and Higher Education.

“The Elements of a Great #highered Twitter Account”

The lively discussion on measuring social media success continues.  Andrew Careaga, Director of Communications at Missouri University of Science and Technology,  published this past week a follow-up post which posed the question: “What makes a great #highered twitter account?” Andrew explains that the general consensus is that measuring Twitter greatness is no easy  task, as in many ways it is “in the eye of the beholder and difficult to gauge.” To reach success he emphasized that it is  important that the voice of your institution’s Twitter account interacts, listens, and responds like a human. Careaga argues that building a great Twitter account “begins and ends with strategy and goal-setting for your specific institution or organization.” Your institution must have a strategy to connect with specific goals, so you have something to measure. Ultimately, Careaga concludes there is no one-size-fits all approach to measuring Twitter greatness, as the context is different for each institution. Read the full post here!

‘I DARE YOU TO DREAM BIGGER’: PRESIDENT OBAMA’S ADVICE TO THE CLASS OF 2013

Graduation season has arrived, and with it a plethora of notable individuals who will take the stage to share words of wisdom for the Class of 2013. This past Sunday, President Obama addressed the undergraduate class at Ohio State University with the first of three commencement speeches he will give this season. The President told students that,  “…if you are living your life to the fullest, you will fail, you will stumble, you will screw up, you will fall down. But it will make you stronger, and you’ll get it right the next time…” He asked them to persevere and dared them to dream bigger.  Read more here.

We look forward to hearing from other inspirational speakers this month; particularly from individuals who are showing their alumni pride by returning to their alma mater to address this year’s graduates. Melinda Gates, Newark Mayor Cory Booker, and Drew Houston, founder and CEO of the file-sharing service Dropbox, are among those addressing graduates at schools where they once sat for their own commencement.

 

LinkedIn turns 10, celebrates ‘Cinco de LinkedIn’

More than 3,700 LinkedIn employees had another reason to raise their margarita glass this past Sunday, as they celebrated “Cinco de LinkedIn”in honor of 10 years in business! A decade ago, Reid Hoffman co-founded LinkedIn in his living room with the “mission of connecting the world’s professionals to make them more productive and successful.” Launched with the simple tagline, “Relationships matter,” the company has grown by leaps and bounds in the past 10 years. Today, over 200 million professionals around the world log-on to LinkedIn to connect with one another and grow their careers. With more than two members joining each second, we can’t wait to see what the next ten years hold for our friends at LinkedIn!

 

Endowment Spending & Growth Calculator

Enter your fund's current value and adjust the return, spending, and inflation sliders to see how its value in today's dollars changes over time.

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4. Continue to Steward Donors

Your relationship with the donors who give to your endowment doesn’t end when you secure their gifts. Because your endowment exists to make a difference in the long term, your supporters will want you to keep in touch about its progress. Ongoing stewardship means keeping donors updated about your endowment’s performance and impact. A report that strengthens your relationship with donors should cover:
  • The fund’s balance at the start and end of the year
  • Spending amounts and allocations
  • How the fund’s returns compare to your investment targets
  • A short narrative detailing the specific impacts the endowment achieved
Create a report for each endowment rather than sending an identical document to everyone. A donor who endowed a scholarship wants to hear about the students it supported, while a donor who endowed a building fund wants updates on construction projects.

5. Upgrade Your Endowment Management Tools

Your endowment management tools should make applying your spending policy across every fund easy. Investing in dedicated software is especially useful as your endowment grows. Handling unitization in spreadsheets might work for a few funds, but as you begin to manage dozens or hundreds of gifts, dedicated software can save your team time spent manually calculating gains and losses for each one.

Why Nonprofits Need Dedicated Endowment Management Software

Dedicated endowment software brings accuracy and consistency to every part of the management process, from tracking individual funds to improving security. See how these solutions compare to a spreadsheet-based approach: nfographic table outlining the information below.

How These Methods Compare:

In managing your endowment with traditional spreadsheets, you may see:
  • High administrative burden: Manual entry across disconnected systems
  • Limited security and audit footprints: Reduced version control and audit trail visibility
  • Difficulty with donor transparency: Spreadsheets provide only static data that is difficult to turn into custom results.
By using dedicated software, you are likely to find the following improvements:
  • Lower administrative burden: Automated fund tracking and calculated allocations
  • Enhanced security and audit footprint: Audit-ready reconciliation with clear tracking
  • Greater donor transparency: Connects with reporting platforms
Dedicated endowment management software keeps your organization compliant while freeing up the time your team once spent manually managing spreadsheets.

Secure Your Endowment with Balance by EverTrue

Effective endowment management begins with excellent accounting. Balance by EverTrue handles unitization, applies spending rules, and produces audit-ready reports, so your team can spend more time on the donor relationships that built the fund in the first place.
  • Turn your data into a clear picture of long-term impact. Combine accurate fund accounting with donor reporting that showcases impact.
  • Connect with the tools you already use. Pair Balance with Impact by EverTrue and ODDER by EverTrue to create and deliver compelling digital endowment reports that you can send to donors with ease.
  • Know where every fund stands in real time. Check market values, gift history, and available spending for any fund. Then, share view-only versions with your team, so everyone stays informed.
With Balance, your team can stop spending all your time on manual management and instead add balance to your endowment workflow.

Additional Resources

To learn more about managing your endowment and other ways that technology can help your organization, check out these additional resources: Less stress, higher endowment funds. Discover how Balance provides the organization, security, and accuracy your endowment needs. Request a demo.
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