Having a Heart: Managing Key Performance Indicators for Non Profits – Your organization exists because of a desire to change. Your mission may be to educate children, preserve and protect nature, nourish the soul, bring the arts to your community, or strengthen families through a variety of human services.
How do you measure your progress? How confident are you that the organization is operating at the highest level of stewardship? Can you illustrate in detail for a donor the impact an increase in their giving would have?
Progressive, tech-savvy finance directors understand the importance of managing by key performance indicators. Michaud is happy to offer a free resource to assist you: ‘Outcome Metrics – Measuring What Matters in the Non Profit World’.
When tied to your mission in a meaningful way, Key Performance Indicators (KPIs) can be a powerful management tool. Three benefits that accompany a focus on KPIs are: priorities are kept front and center; a more powerful message when speaking to donors and funders; and the ability to accelerate and expand mission fulfillment.
Keeps priorities front and center
Key Performance Indicators serve as a GPS for your goals and mission. When you’re driving and you turn too early or over shoot your exit, the GPS notes where you are and recalculates the path to your destination. You’re back on track quickly. KPIs are designed to keep you on path toward the stated goals of the organization which could be things like campaign, program, or organizational efficiency.
Provides a more powerful message
It’s easier to ask for more money when you done a great job managing the funds you currently have. This applies to grantors as well as major donors. You can demonstrate your optimal stewardship and make a compelling case for what you could do with more funds. When your message includes detailed metrics and outcomes, donors and grantors can make the determination that their gifts will have the most impact if given to your organization.
Accelerates and expands mission fulfillment
Many organizations rely on dashboards (accessible from multiple devices: desktop, tablet, and smart phone) to keep outcome metrics and organizational priorities front and center. Well-defined outcome measures help organizations to continuously adapt and improve.
Curious to see what these dashboards look like? Would you love a way to combine financial and statistical data to evaluate performance? We are more than happy to show you. Contact us and we’ll explore how you might benefit with Sage Intacct’s nonprofit financial accounting and dashboards.
Don’t forget to access the 15-page eBook ‘Outcome Metrics – Measuring What Matters in the Non Profit World’.