Money Saved: How
Asset Tracking Software
Helps Nonprofits Meet Their Goals
Nonprofits know better than anyone else that their best bet for meeting goals is to spend as much time as possible focusing on their charitable missions. But with only so much staff to go around, it’s difficult for them to balance this work with all their administrative tasks. The solution they need to stay on track is an asset management software, which can help them organize where donations are and how they’re being used, stay accountable to their donors, and save their time and money for what they care about doing most.
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Nonprofits aim to help not only individuals but also large numbers of people. With such lofty aspirations, it’s no wonder they’re often stretched thin. According to the Nonprofit Finance Fund, a survey of more than 5,000 nonprofit organizations revealed that most operate on small budgets in proportion to their total fundraising efforts. Additionally, it found that nonprofits frequently list financial sustainability as one of their three largest concerns. Nonprofits have a particular incentive to save time and money, the better to help as many people as possible in the present, and secure their ability to help more people in the future.
Because of these budget concerns, already small-staffed nonprofit organizations spend countless hours not on the mission, but on administrative tasks instead. They may not make a profit, but these organizations can’t help thinking about money. From fundraising to allocating funds in a transparent way, they worry about finances just as much as for-profit companies.