In the for-profit world, there is a return on investment, or commonly shortened to the ROI. However, in the non-profit world, you have what is called the return on mission or ROM. In many instances, that ROM is achieved or at least it helps to achieve it, by monitoring Key Performance Indicators (KPIs) on a dashboard from your business management software solutions, such as accounting software, fundraising software, and/or grant management software. All this information should be readily available in your dashboards to be able to drill down on them and view the real-time information for your non-profit organization.
The Resource Group helps non-profit organizations with accurate and efficient tracking of these KPIs in a number of ways, but mainly addresses it with a technology solution called Sage Intacct
. Through Sage Intacct’s powerful dashboards, using non-financial statistical accounts, we can populate dashboards with meaningful charts, metrics, and key performance indicators that are actionable and allow the user to drill down into the data.
Let’s talk fundraising for example. If you're in a non-profit, fundraising situation, you should have a KPI on your dashboard that visually indicates to you your fundraising efficiency. If fundraising is trending down, typically we use big red arrows to draw attention to that fundraising has dropped by X percentage over the last month, or any time frame, for that matter. That is obviously going to draw attention to that area so that you can go talk to your fundraising team, program managers, or executive team to see where you can improve efficiencies.
At the end of the day, KPIs for your non-profit
help create a greater return on your mission and that's the goal for all non-profits.