Your New Benchmarking Tool: Blackbaud Index-Canada
How does your non-profit compare to other organizations in the Canadian charitable sector? If you’re not sure how you measure up, you’re in luck!
Blackbaud recently released a new index in Canada that lets non-profits benchmark their fundraising efforts within their own vertical and across the larger sector.
Compare your fundraising performance with the Blackbaud Index-Canada.
The Blackbaud Index-Canada looks at the data from more than 250 organizations and gives us the monthly opportunity to follow their results. Why does it matter?
“Economic conditions, natural disasters, and market fluctuations have made it extremely difficult for nonprofits to make fundraising decisions informed by the latest donor behavior. That is why we created The Blackbaud Index – Canada: to provide insight into what happened in the prior few weeks and valuable analysis by leaders in the sector into what fundraisers can learn from it,” writes Chuck Longfield, Blackbaud’s Chief Scientist.
It’s an invaluable resource for non-profits across Canada. Fundraising professionals who are hungry for industry benchmarks will appreciate this, we’re sure!
The Blackbaud Index-Canada tells us that overall giving in Canada “grew 2.7 percent in the three months ending February 2014, compared to the same period a year earlier.” And online fundraising grew at greater rates than the overall growth rate – a trend we can all feel as fundraising professionals.
How do we manage growth? This is a key question for one of the most mature non-profit sectors in the world. It seems clear that non-profits are investing relatively effectively in improving their fundraising skills, staffing resources and applying best practices.
Having a resource like the Blackbaud Index-Canada is yet another tool that allows the non-profit fundraising professional to determine how best to manage and grow their fundraising programs. You can put your organization’s fundraising data into the tool to map your performance against the index.
To remain competitive in the Canadian charitable sector, we suggest organizations focus on the following tactics:
- develop volunteer leadership to increase capacity
- collaborate with similar charities for impact
- integrate fundraising with programmatic work
- develop and implement donor loyalty “cradle to grave” strategies
Fundraising is not an easy task but effective planning and awareness of what other organizations are doing can help you improve your fundraising program. The monthly data that the Blackbaud Index-Canada provides is another tool to help our sector grow and learn from each other.