New 1:many cadences with automated emails, reusable templates, and more in Signal

DonorSearch identifies prospects in your database with the capacity and intent to give.

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SMAC: The Newest Trend in Advancement Tech

Tech has transformed the business community dramatically over the past decade. Long gone are the days of centralized Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) systems that manage all of a business’ daily operations and data. Now, companies are turning to independent software vendors, one for each niche aspect of their business needs; they’re choosing Salesforce for their database needs and Eventbrite for their event management. The best part is that data from all of these independent sources is easily integrated with strong application programming interfaces (APIs).

In the for-profit world, this integration is referred to as “SMAC,” a catchy acronym that describes the parts of the integrated sum:  Social Mobile Analytics and Cloud. As vendors work to combine these four technologies in new and innovative ways, SMAC has given rise to powerful solutions for all kinds of business problems, particularly those related to collecting and managing data.

via Nex-G Exuberant Solutions

 

However, as we noted in our predictions for the advancement office of 2015, this trend hasn’t quite caught on in the nonprofit community. While advancement professionals—including many of our customers—have shown an interest in using independent vendors like MailChimp for email campaigns and HubSpot for inbound marketing, it has not yet become an industry standard to overlay traditional CRM databases with SMAC solutions.

It’s clear, then, that the field of advancement has some catching up to do. SMAC technology can revolutionize your fundraising, providing quicker and easier ways for your entire advancement team to surface, analyze, and manage donor data. Let’s break it down:

  • Social: In today’s social era, social networks like LinkedIn and Facebook are brimming with valuable information on donors and prospects. How are you capturing that data? A Social Donor Management strategy can produce incredible ROI for your social media efforts.
  • Mobile: With a mobile app, data on donors and prospects is easily accessible at any time from a mobile device. About to grab lunch with a major donor? No need to be in your office or behind a desktop computer to get the information you need to prep for the big meeting.
  • Analytics: With built-in analytics of your donor data, you can have immediate access to powerful insights— which can lead to increased fundraising efficiency and more successful asks.
  • Cloud: With cloud-based technology, donor data is updated and stored safely without the need for an onsite database. That means you can access your data from any device no matter where you are.

The adoption of SMAC technologies will become increasingly critical to your advancement office as you begin to “think outside your database.”  Learn more about our SMAC solution for boosting your fundraising efforts through Social Donor Management.

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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