If you needed another reason to value our industry, know this: Philanthropy is one of the largest economic engines in the U.S. – employing millions of citizens, about one in 10 in the private workforce. And like any other titan, it takes the right tools and resources to drive change and propel impact at a competitive pace.
Recently Fluxx CEO, Madeline Duva, penned an article for Forbes that explains exactly how tech is impacting our industry today, and how those of us who bridge the gap between tech and philanthropy (aka the “Tech for Good” industry) could be stepping up to better serve our community.
See below for some highlights from Madeline’s piece.
Tech giants affect philanthropy in more ways than one. For starters, many including Google, Microsoft, and Amazon have founded large corporate foundations in the hopes of further benefiting the world. Secondly, tech giants and startups alike are providing philanthropy with improved tools to better manage their grants and track impact!
While the technology exists and tools are in place to help organizations manage their fundraising, grants, and operations, there’s always more that could be done, and some of this can’t be accomplished by technologists alone. The philanthropy industry needs to grapple with the outdated Overhead Ratio in order to make room for new technology investments. Philanthropy cannot move forward if it refuses to fund technological advancements that will provide the kind of monumental value that quickly outpaces initial upfront cost.
Because the Overhead Ratio still plagues philanthropy and it’s no secret that budgets at nonprofits are tight, the tech industry will need to adjust to meet philanthropists where they are. That means technologists must work harder to understand how nonprofits operate and provide tools that are both easy to use (after all a volunteer may be in charge of grants or fundraising management) and affordable. Generating lasting impact is hard, but technology can ease the burden and help funders and nonprofits alike showcase their results and understand their data.
In her Forbes article, Madeline shares tips on exactly how tech companies can expect to affect change and provide a superb product for the philanthropy industry.
To learn more, read Madeline Duva’s piece in Forbes.
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