Many nonprofit professionals are expecting growth and increased revenue this year, according to a new survey.
The survey, by Capital One Bank, polled a group of 130 nonprofit professionals from the Washington, D.C., area at the annual Greater Washington Society of CPAs’ Nonprofit Finance & Accounting Symposium and found that 77 percent of the respondents expect growth and increased revenue in 2015, compared to 76 percent last year, while 63 percent report improved current financial health, up from 57 percent last year (see Nonprofit Professionals Expect Growth This Year).
The environment for nonprofits has improved to the point that one in five survey respondents see 2015 as an opportune moment to launch a capital campaign.
This guarded optimism has shaped nonprofits’ priorities as they look ahead to 2015, according to the survey. Nearly a third (32 percent) are considering investments in hardware and software. Of those considering technological investments, 29 percent plan to make the transition to cloud computing, while 25 percent are considering upgrading their website.
Seventeen percent are also hoping to increase donor engagement by investing in customer relationship management tools. Twenty-eight percent of those surveyed currently use “big data” analytics.
“The economic recovery has begun to pick up steam and with it the pace of giving,” said Adam Ostrach, executive vice president and head of mid-Atlantic middle market banking for Capital One, in a statement. “Nonprofit industry professionals now feel confident enough to make investments to strengthen their organizations. Our team of banking professionals can provide the support they need to make the most of this emerging opportunity.”
The nonprofit sector continues to address longstanding challenges, however. Fifty-nine percent of those surveyed expect increased competition for donations to be the greatest fundraising challenge they will face in the coming year. Nineteen percent of nonprofits expect to reduce administrative costs by partnering with other organizations in 2015.
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