How excited would you be as a donor if you we able to have access 24/7 to information about the nonprofit you supported via the web just by logging in? Before you jump to conclusions and think that this is just another mindless website, I’d challenge you to think again!
To begin with everyone wants to know the mission of the organization and its vision for the future.
However, you can click to also read a detailed explanation of the programs offered by the nonprofit as well as view the current numbers and demographics to see how many are actually involved in each program as well as the cost involved in running the program. Further, if there were any expected outcomes this is clearly stated in advance.
Since you are funding the organization you have the right to know who is running the organization, don’t you? First you can view a list of all the board members with their respective contact information and a brief bio on each member. Secondly, you will be able to view the current resume of each staff member with their respective job description as well as information on their salary or hourly rate and what benefits they receive. Likewise, all staff members are required to keep an online daily planner so donors can see what their schedule is actually like. This would not be a static page but one that requires staff to make notes in blog fashion weekly as to how things are going in general and their concerns.
By clicking one button you will see all the fundraising activities of the organization and know the results! The times and dates of all fundraisers, and the cost involved in raising these dollars and how successful or unsuccessful each event was and who was involved in raising the money.
With yet another click of a button you will see the latest grant proposals sent to foundations, and find information on the grant proposals funded along with a schedule of future proposals to be sent.
In this virtual environment you are also able to view the current bank balance and interest rate as well as see the balance of the organization’s endowment and know how monies are invested and what management fees are charged. Another click reveals a copy of the organization’s 501c3 determination letter as well as all filed tax forms and the latest audit. Further you are able to view the organization’s annual budget and see line item by line item how they are doing monthly!
Who would have thought that having an annual report would become obsolete? Also, why would you bother with reading a newsletter when everything you want to know is right at your fingertips?
Sending a donation is as simple as clicking a button! An electronic payment will be accepted using either your credit card or bank account information. Donors are also allowed to choose where you want the money deposited as well! Funding general operations, the endowment account or allocating monies for specific line item in the budget or over all programs are all an option! Also, note that at year end 10% of the monies that remain in the general operating account will be transferred to the endowment account to help it grow.
Do you have appreciated securities you would like to donate? That is not a problem either, just send an email and a copy will be sent to the nonprofit’s brokerage account manager and they will be glad to handle everything for you without involving a fee to you.
Do you have other “stuff” you are thinking about getting rid of but it is just too nice to throw away? Again this is not a problem! As you click to view your donor page you will not only see printable receipts for all your contributions given but also you will be able to view the current acceptable value for items you might wish to donate i.e. clothes, electronics, etc. Simply enter the items you have and using a drop down list determine the condition of each item. The last information will be used giving you the highest accepted value determined by the IRS. Your list of items will be automatically saved to your profile and you also won’t have to worry about printing out any receipts each time you make a contribution because you will receive via email as well as through the mail during the first week in November a detailed record of your contributions for income tax purposes.
A staff member will contact you after you make your list to arrange a time to accept your contribution. Whatever item or items that are donated become the sole property of the nonprofit with the understanding that if they choose to dispose of the item any monies received will go back into the general operations budget of the organization.
DISCLAIMER: This information is not intended to provide legal or accounting advice, or to address specific situations. Please consult with your legal or tax advisor to supplement and verify what you learn here.