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Bridging the Gap Between Finance & Fundraising - MNA Superconference

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Bridging the Gap Between Finance & Fundraising - MNA Superconference

  1. 1. Bridging the Gap Between Finance & Fund Development
  2. 2. Tracy-Ann Palmer Chief Growth Officer tpalmer@billhighway.com Happiness: Making a difference Gaining wisdom Embracing life
  3. 3. Pete Wardrope Growth Engineer pwardrope@billhighway.com Happiness: Family Good food Northern Michigan
  4. 4. Who is Billhighway? MICHIGAN BASED FINANCES ARE ALL WE DO NONPROFIT FOCUS 3500+ CLIENTS PROCESSED $7 BILLION+ REDEPLOYED $125 MILLION+      
  5. 5. Top CFO Challenges Today What You Need to Know About CFO’s  Inability to forecast results (51.1%)  Better manage cash flow (47.4%)
  6. 6. Top Challenges “Small Businesses Seek Better Cash Flow Tools from Their Banks: Survey”, October 15, 2012 by Bank Technology News
  7. 7. Managing Cash with Outdated Tools     Excel – 73% No Tools – 10% ERP System – 9% In their Head – 8%
  8. 8. Consider the Cloud  65% would if it saved dollars and staff hours  85% reducing paperwork is important CHALLENGES  64% integration with existing systems  55% system and network security  44% introducing a new process
  9. 9. “Half of Fundraisers in the Top Job Would Like to Quit,” Chronicle of Philanthropy, January 2013 “The Cost of High Turnover in Fundraising Jobs” Chronicle of Philanthropy, April 2012
  10. 10. What’s Wrong?  Lack of holistic approach  Feeling unappreciated  Others don’t understand the role “UnderDeveloped: A National Study of Challenges Facing Nonprofit Fundraising” January 2013
  11. 11. Develop Happier Fundraisers  Supportive infrastructure  Operate more effectively  Let staff play to their strengths  Relief from tasks they hate - Stop the Nonprofit Fundraising Treadmill: 3 Reasons I Want to Get Off - Big Changes Help Hospital Attract More Big Gifts Much Faster - Gallup Strengths Finder
  12. 12. The Role of Technology
  13. 13. Sound Familiar? I had to redo my thank you letters because donor data was incorrectly keyed into our donor management system. My donors are receiving multiple appeals in the mail because we have so many duplicate records in our database. Fund Development reports $1.3 million in YTD contributions while Finance reports only $1 million. What gives? Our finance team changed our lockbox provider, which reduced individual donor revenue by 5%.
  14. 14. Building a Successful Relationship
  15. 15. Eliminate Manual Tasks  Opening and copying donor checks  Keying check data into the database and assigning codes  Hand writing and mailing thank you letters
  16. 16. THE RESULT Increase Time Savings and Data Quality REDUCE DATA ENTRY ERRORS INCREASE SECURITY REDEPLOY RESOURCES INCREASE EFFICIENCY
  17. 17. Raiser’s Edge Import Plug-In
  18. 18. Eliminate Redundancy  The same people performing the same tasks  Multiple systems with similar functionality  Inconsistent processes  No revision control  Unprotected data poses a security risk
  19. 19. THE RESULT Increase Efficiency SAVE TIME IMPROVE ACCURACY STREAMLINE PROCESSES INCREASE SECURITY
  20. 20. Integrate Existing Systems  Are you paying high consulting fees?  Are you exporting and importing data from one system to another?  Do you run multiple reports from different systems and then compare?  Are you losing or not retaining critical donor information?
  21. 21. THE RESULT Cost Savings & Data Integrity ELIMINATE SYSTEMS PROCESS IMPROVEMENT INCREASE VISIBILITY
  22. 22. Provide Visibility into Financials  No remote access to software systems  No administrative controls in place  Inability to make decisions and act quickly
  23. 23. THE RESULT Increase Collaboration BUILD FINANCIAL LITERACY SHARED RESPONSIBILITY MORE STRATEGIC DECISIONS
  24. 24. Transform Fund Development Eliminate back office activities Manage appeal exceptions quickly and easily Diversify revenue stream through social platform integration Communicate donor impact using online tools
  25. 25. Raiser’s Edge Auto-Import Ability
  26. 26. Raiser’s Edge Exception Review
  27. 27. Technology Improves Communication By Eliminating Manual Tasks Increasing Visibility into Financials Eliminating Redundancies Integrating Current Systems Transforming Fund Development
  28. 28. Technology Evaluation Paper Payments PCI Compliance Integrated Online Donations Requirements Document Credit Cards to Lockbox ACH Payments & Refunds
  29. 29. What to Ask a Provider     Licensing Fees? Consulting Fees? Rip & Replace? Closed-Loop Solution?
  30. 30. Our Customers
  31. 31. December 3rd, 2013
  32. 32. Giving Tuesday Promotion December 3rd, 2013 0% Transaction Fee for Give One Free Card Reader nearly $1 out of every $5 raised online comes from a donation made in December …learn how Billhighway can help! First 10 Respondents http://www.billhighway.co/givingtuesdaymna/
  33. 33. Questions
  34. 34. How Well Do You Know West Michigan? What city was just named 13th nationwide as the most generous? Grand Rapids (nerdwallet.com, 9/30/13) What was one of the names Lake Michigan was referred to in the 1600’s? Grand Lac, Lac de Illinois, Lake of the Puans, Lake of the Stinking Water Who brought a bi-plane to the September 3, 1911 West Michigan Fair? The Wright Brothers What was John Ball’s occupation? (John Ball Park Zoo) Lawyer What actor who appeared in many films with Katherine Hepburn, was part of a Grand Rapids acting troupe in his early career? Spencer Tracy
  35. 35. Start a Conversation Tracy-Ann Palmer, Chief Growth Officer Pete Wardrope, Growth Engineer 248.273.0074 sales@billhighway.com billhighway.co twitter.com/billhighway facebook.com/billhighway

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