Time and money are both valuable to a charitable organization
Money is always needed when it comes to helping an organization achieve its goals. Nonprofits that have been created with the sole purpose of helping others will always need donors to contribute monetarily in order to meet its specific operational needs. As a result, nonprofit fundraising will always be a necessary action item in order for any charity to push forward and serve the purpose that it was created for.
However, there is another valuable contribution that donors can make to a charitable organization and that is their time. In many ways, this is just as important as money. According to a study conducted by U.S. Trust, the wealthiest among us share a similar point of view.
The survey polled 680 Americans with investable assets of at least $3 million. One of the findings revealed that 48 percent of these individuals felt that donating their time to charitable cause would have far greater impact than contributing money. There are likely many other people without similar financial resources who share the same opinion. This highlights the need for a nonprofit to incorporate a volunteer management system as a way to track those individuals who contribute their time.
Of course, this doesn’t mean that financial donations have slowed. In fact, a recent article from The Chronicle of Philanthropy revealed that individual donor giving is on the rise.
Citing the Giving USA report, the Chronicle states that of the 3 percent overall growth in financial donations, 2.7 percent was attributable to living Americans with the rest coming from bequests. Any nonprofit or charity would be wise to integrate donation management software as a way to keep track of any additional contributions that come into an organization.