Infographic: Do Fundraising and Finance Play Nice?
Hey, fundraisers—ever wonder what your friends in the finance department think of you? That (and vice versa) is what Abila set out to examine in its “Nonprofit Finance and Fundraising Collaboration Study.” The study surveyed 1,400 nonprofit professionals to determine the relationship between fundraising and finance, and how both departments can come together to form a more collaborative nonprofit.
Some of the highlights:
- The majority of fundraisers (54 percent) and about half of finance respondents (45 percent) described their work relationships with the other side as “somewhat collaborative” or “not collaborative at all.”
- When asked what they wish the other side knew, fundraisers listed “you have to spend money to make money” and “we need room for flexibility;” finance personnel said, “my job is complex and time consuming,” and wished for a “better understanding of basic accounting” from fundraisers.
- Both departments listed “differing priorities” as one of the top challenges in working with the other side.
The survey also examined additional challenges in fundraising and finance collaboration, including variance in reporting metrics, a lack of information sharing, differing personalities and differing terminology. But both sides—84 percent of fundraisers and 79 percent of finance professionals—agreed that software integration is critical to alleviating these issues.
“Technology can play a key role in breaking down silos, increasing information-sharing and improving opportunities for better decision-making,” said Dan Murphy, MIP Fund Accounting product manager for Abila. “When finance and fundraising are able to look at the same data, they can work together to report on the overall health of the organization to the board and other key stakeholders, instead of reporting on different goals and budgets.”
View the full infographic below, and download it here.