You want to have a good system to track data so that you can use it easily in your analysis process. Here are some things to think about when you are tracking data.
Do we have a good system to track data?
14. What are the deliverables that we can communicate to the grantor? Are they outputs or outcomes?
15. How many people can we serve with the grant? How many units of service can we provide?
16. Can we clearly communicate statistics? Will charts or graphs help us pictorially represent our impact on the community?
17. Are we consistently reporting our statistics to the community? Number of people served; units of service. Is our definition of units of service consistent?
18. Are we already collecting data for other purposes that can be used for grant seeking purposes?
19. Are we protecting the integrity of the data? How is the information verified?
20. Can we use national, state, or local statistics to further communicate the benefit of the grant?
Showing posts with label Data Analysis. Show all posts
Showing posts with label Data Analysis. Show all posts
Sunday, October 10, 2010
20 Questions-Part II
It can be tempting when you are desperate for funds to apply for every grant that even remotely seems close to your mission. However you need to make sure that the grant will not end up costing you more money in the long run. Here are four more questions from 20 Questions that Data and Financial Analysis can help you answer, that address this issue.
Is this grant the best fit for us?
10. If the grant is to fund collaborative work between two organizations will the collaboration be financial beneficial (or at least financially neutral) for both of the organizations?
11. If the grant is to start a social enterprise, will this social enterprise be financially beneficial to the organization?
12. If the grant is for a new program, can we afford to deliver the new program? Can it be sustainable beyond the grant period?
13. If the grant is provide a springboard to start a new program and we are expected to support the program on our own after the grant period is done (usually 2 to 3 years); what is the plan to become self supporting (sustainable)? How will we pursue donations from other sources for the program?
The last seven questions will be covered in the next post.
Is this grant the best fit for us?
10. If the grant is to fund collaborative work between two organizations will the collaboration be financial beneficial (or at least financially neutral) for both of the organizations?
11. If the grant is to start a social enterprise, will this social enterprise be financially beneficial to the organization?
12. If the grant is for a new program, can we afford to deliver the new program? Can it be sustainable beyond the grant period?
13. If the grant is provide a springboard to start a new program and we are expected to support the program on our own after the grant period is done (usually 2 to 3 years); what is the plan to become self supporting (sustainable)? How will we pursue donations from other sources for the program?
The last seven questions will be covered in the next post.
Saturday, October 9, 2010
20 Questions that Data and Financial Analysis Can Answer
A number of my posts have been about the information that you can gain to help you better manage your organization through the analysis of data and finances. Remember that data and financial analysis is part of the picture. Most donors give because of relationships; their commitment to the cause; and/or their values. However, data and financial analysis can help answer the following questions that you and/or your donors might be asking:
How can our resources best be used?
1. Where do we most need the money? What program will benefit the greatest from this investment?
2. Which programs will be able to increase services and the number of people they serve (increase capacity) with additional funds?
3. What is the power of investing with our organization?
4. What programs have the potential to attract more funding from other sources if we expand the programs?
5. Will this grant help us attract more volunteers or help us to use volunteers more effectively—adding to our capacity with both funds (the grant money) and people resources (the volunteers)?
6. Are we using our facility, staff, volunteers, specialized resources to their fullest capacity? Is there untapped capacity that we can develop with the grant funds?
7. Do we have a “wish list” of needs and the approximate dollar cost so that we can easily and quickly respond to grant opportunities?
8. How do we compare to other organizations offering similar services?
9. Why are we the best organization to receive the grant funds?
More questions will be listed with the next post.
How can our resources best be used?
1. Where do we most need the money? What program will benefit the greatest from this investment?
2. Which programs will be able to increase services and the number of people they serve (increase capacity) with additional funds?
3. What is the power of investing with our organization?
4. What programs have the potential to attract more funding from other sources if we expand the programs?
5. Will this grant help us attract more volunteers or help us to use volunteers more effectively—adding to our capacity with both funds (the grant money) and people resources (the volunteers)?
6. Are we using our facility, staff, volunteers, specialized resources to their fullest capacity? Is there untapped capacity that we can develop with the grant funds?
7. Do we have a “wish list” of needs and the approximate dollar cost so that we can easily and quickly respond to grant opportunities?
8. How do we compare to other organizations offering similar services?
9. Why are we the best organization to receive the grant funds?
More questions will be listed with the next post.
Wednesday, June 30, 2010
The Data (and the Donations) are in the Details
I recently spoke with a wonderful group for a wonderful organization, the Association of Fund Raising Professionals at their Lehigh Valley conference. The presentation was “Where Can Your Limited Funding Dollars Have the Most Impact: Communicating to Your Funders the Power of Their Investment in Your Organization”.
A lengthy title, but it reminds nonprofits that their funders are indeed investors. Prior to making an investment, investors will look at the investment and make sure that it delivers a good return on their money at a level of risk that is acceptable to them. What information do your investors need to determine that their money will make the most impact in your organization?
First you need to figure out where your funds have the most impact. If you have several programs you need to look at each program separately. What are the direct costs related to that program? How many people can you serve? What amount of staff time is required to deliver your services? Can you use your staff time or your facilities or your resources in a more efficient manner to serve more people?
Once you have the financial information and the data, you need to figure out the best way to communicate that to donors and grantors. Different audiences will need different types of communication. One grantor may be interested in investing in your organization because they can see that if they provide money for staff training, the staff will be able to serve 50 more people each week. Another donor may donate because you have explained that their donation of $500 will enable your organization to build a well that can bring water to 600 people every day. And another funder may appreciate your commitment to building a stable, healthy nonprofit that continually is a community resource and they are glad to add to your reserve fund because they can evidence of this stability in your financial statements.
Financial and data analysis will not only attract more donors, it will help you manage your nonprofit better. As the saying goes, “If you can measure it, you can manage it”
A lengthy title, but it reminds nonprofits that their funders are indeed investors. Prior to making an investment, investors will look at the investment and make sure that it delivers a good return on their money at a level of risk that is acceptable to them. What information do your investors need to determine that their money will make the most impact in your organization?
First you need to figure out where your funds have the most impact. If you have several programs you need to look at each program separately. What are the direct costs related to that program? How many people can you serve? What amount of staff time is required to deliver your services? Can you use your staff time or your facilities or your resources in a more efficient manner to serve more people?
Once you have the financial information and the data, you need to figure out the best way to communicate that to donors and grantors. Different audiences will need different types of communication. One grantor may be interested in investing in your organization because they can see that if they provide money for staff training, the staff will be able to serve 50 more people each week. Another donor may donate because you have explained that their donation of $500 will enable your organization to build a well that can bring water to 600 people every day. And another funder may appreciate your commitment to building a stable, healthy nonprofit that continually is a community resource and they are glad to add to your reserve fund because they can evidence of this stability in your financial statements.
Financial and data analysis will not only attract more donors, it will help you manage your nonprofit better. As the saying goes, “If you can measure it, you can manage it”
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