You are viewing the "February 2017" monthly Archives
Columbia University: ejRemote
Working with the Event Journal team has been such a pleasure. They are so quick and responsive, which is a comfort to anyone in event planning. The presentation is beautiful, and we received great feedback from our alumni!
Associate Director, Events & Programs
Columbia College Alumni Association
Young Judaea: EVENTjournal
The investment we made by partnering with Event Journal was a no-brainer, in terms of the success we saw by utilizing this great tool. It allowed us to raise funds in a way that we never thought possible.
Manager, Development & Alumni Relations
An Online Ad Gallery, Embedded on Your Organization’s Event Page
It’s here and we couldn’t be any prouder! ejRemote appears directly on clients’ event pages … on their own websites or third-party platforms. Participants learn about the event and register online using the nonprofit organization’s existing shopping cart and database. Then, they leave the journal ads to us. Event Journal manages the entire process, freeing our clients up to raise more funds!
Behind the scenes, Event Journal creates, proofs and posts the ads, and hosts the entire ad gallery on our secure server. Event sponsors & supporters receive added recognition via an easy-to-navigate “e-journal” platform. This is not a static pdf or flipbook. This is a dynamic, responsive gallery. Journal ads can be seen in slide view, list view or via a search feature — and ads link to sponsors’ websites.
Event Journal provides a link for organizations to include in their purchase confirmation emails. When clicked on, it directs users to a customized ad submission portal. Users can attach a camera-ready ad or can submit copy for a personalized message and Event Journal creates the ad for them. All ads are posted to the ejRemote gallery in real time and the client is copied on all ad submissions.
At the event, the ad journal comes to life as an elegant presentation, showcased on large screens or table-top iPad displays.
ejRemote is a great addition to the digital Event Journal family. It adds a flexible alternative to our flagship service, EVENTjournal, which provides expanded benefits and opportunities. Please click HERE for more information on ejRemote or call us to discuss which option is best for your fundraising event!Â Please view our first ejRemote gallery for Columbia University here.
Is a Business Venture Right for your Organization?
Event Journal client, Family Residences and Essential Enterprises, Inc. (FREE) of Long Island, NY is a nonprofit organization supporting more than 4,000 individuals with intellectual / developmental disabilities, mental illness and traumatic brain injury. When FREE was seeking better career opportunities for its constituents, administration decided to look within and develop its own opportunities through affirmative business ventures. FREE now operates Terry’s Cafe, a full service catering outfit, made up of individuals with special needs who are interested in food service careers. The same organization also operates a commercial cleaning service called Swept FREE and a retail store called Fancy FREE, which sells gifts and handmade crafts, many created by program participants.
â€śIn addition to providing useful services to the community, our Affirmative Businesses provide a sense of independence and freedom to the men and woman we serve,â€ť said Greg Varro, Affirmative Business Development Manager for FREE. â€śOn top of the income they earn, these individuals obtain valuable training and experience, enabling them to seek employment anywhere else they may choose to live.â€ť
Geri Stengel of Ventureneer is a seasoned consultant to nonprofits in the area of business ventures. She shares some helpful information for organizations considering embarking on such ventures:
Nonprofit business ventures are not a fad or a new idea. Many organizations â€” from literacy efforts to senior service providers â€” are creating ventures. Whether large or small, nonprofits run thrift shops, food service companies and even manufacturing companies to fund their programs and motivate program participants.
Benefits of such ventures include producing unrestricted income, enhancing organizationâ€™s mission, building an entrepreneurial culture, improving the organizationâ€™s recognition and attracting donors, volunteers and staff. Business ventures can increase organization revenue, while reducing vulnerability from changes in donor trends. These diversified revenues can help your organization become less reliant on donations, grants and corporate money, and more self-sustainable.
Here are ten tips Geri provides to ensure your nonprofitâ€™s commercial venture is a success:
- Spend Time Planning: Start by identifying an evangelist within the organization who will champion the creation of your business venture, take ownership of the planning process and invest the time necessary to work on the plan. Creating a business plan will clarify your direction, gain buy-in from stakeholders, confirm the ventureâ€™s feasibility and identify risks. Define the features and benefits of the product/service. Describe the strategies youâ€™ll use to reach the target market, such as positioning, pricing, distribution channels, sales, advertising and publicity. Budget expenses, project revenue, develop milestones and determine how much money is needed and when.
- Stay True to Your Mission: Evaluate the appropriateness of the venture to the nonprofitâ€™s mission. Does the business venture further the mission of the organization? Ventures that are compatible with the nonprofitâ€™s mission are more likely to succeed and have the support of the nonprofitâ€™s key stakeholders.
- Practice Good Governance: Get board support early on. If you have to fight the culture of the board or the parent organization, the venture will fail. Managing expectations is important. Keep your board and parent organization informed.
- Get Connected: Leaders of commercial ventures need connections to sources of business expertise, industry connections and money. Broaden your existing network by attending conferences, joining organizations and using your Boardâ€™s connections. Professionalsâ€”such as lawyers, accountants or bankersâ€”can open doors for you.
- Ensure Adequate Financing: Money available through grants is limited, and it may be difficult to get donations and corporate money for the creation of business ventures. Therefore, it will be in your interest to learn about new sources of capital, including debt, equity and alternative financing.
- Assemble a Strong Management Team: Your top person should be entrepreneurial and have a track record in the industry youâ€™re targeting. Ideally, teams should have, not only industry experience but, functional expertise and industry connections in sales, marketing, technology and finance. Equally important, the people you hire must have a passion for your mission and share the values of your organization. Establish clear lines of authority and responsibility to ensure decision making isnâ€™t slowed by the needs of the nonprofit. Be prepared to pay according to market scale, not nonprofit wages, even though you may be paying your venture employees more than your nonprofit staff.
- Benefit by Forming Strategic Alliances: Collaborations are a way to leverage resources, share expertise and spread costs to tackle complex challenges. Partnerships foster mutual benefits, but the alliances exist only as long as they are advantageous to both parties.
- Measure Financial, Operational and Social Performance: Healthy revenue and profit margins are crucial to any commercial venture. You must maintain adequate financial information systems to determine the health of the business and hold the management team accountable for making a profit.
- Focus on the Customer: Every business seeks satisfied customers who return because they trust the companyâ€™s product or service. Repeat customers come at a much lower cost than attracting new customers. Build loyalty by instilling a helpful attitude, delivering on advertised promises, developing a favorable return policy and providing accurate product information.
- Adapt Quickly, Thoughtfully and Strategically: Problems may arise for a variety of reasons, usually due to overly optimistic sales projections. Stakeholders will want to know what strategies you have in place to cope with this slippage. Remember, even the most promising start-up may need a greater investment to reach break-even.
What Event Fundraisers Need to Understand About Payment Processing
By guest blogger Michael Kim, Partner Account Manager, iATS Payments
More than likely, your nonprofit is already employing payment processing to manage a multitude of digital transactions. Whether youâ€™re knee-deep in planning your first gala or planning your 100th gala, understanding payment processing is a great first step toward making your fundraising event as successful and profitable as possible. So, what exactly do you need to know?
Payment processing and nonprofits go hand in hand. Youâ€™re probably familiar with the basics of payment processing, but letâ€™s talk through how it affects your organization as you plan and execute the perfect event.
Payment processing refers to the back-end steps that make digital transactions possible for your donors. Working with a reliable payment processor allows your nonprofit to sell digital event tickets, promote and sell merchandise, and launch crowdfunding campaigns to ensure you meet — and exceed — your fundraising goals. Obviously, credit and debit card processing is vital for your organization to remain accessible. Plastic is the go-to payment method for many donors, and being able to accept cards online and at your event should already be a no-brainer for your organization. Moreover, fundraising trends show that younger donors are demanding payment flexibility and digital giving. If youâ€™re hoping to attract the millennial market to your event, a working payment processing solution is essential!
Takeaway: Payment processing makes it possible for your nonprofit to move funds from your donorâ€™s pockets to your organizationâ€™s bank account. Being able to accept credit and debit payments means more fundraising dollars and a more successful event.
You can accept different types of payments. Your donors want options. The best way to meet that need? Choosing a payment processor thatâ€™s able to work with both credit and ACH (Automated Clearing House) debit payments.
Credit Card Processing
Credit card processing refers to the handling of an online credit card donation as it travels from one account to another. When your donor confirms his credit card contribution, his information must go through several checkpoints provided by your processor for security and verification. Generally, any processor will accept the four major credit cards (Visa, American Express, Mastercard, and Discover). Since so many donors find credit to be the most convenient payment method, itâ€™s essential that your payment processor can accept credit cards for all your fundraising transactions.
ACH Debit Processing
ACH debit processing is an alternative to credit or debit card processing. Instead of entering a card number, the donor provides his bank routing and account numbers to directly draw money from his own checking or savings account. Consider it an electronic check. For a deeper look at debit processing for nonprofits, check out iATSâ€™ guide to direct debit payment processing.
Takeaway: Both credit and debit payment processing are useful for your nonprofit. Being flexible as you fundraise and host your event will make donors comfortable and more likely to continue giving in the future.
Payment processing empowers online fundraising tools. There are a number of diverse online payment processing tools that you can incorporate into your fundraising strategy. Here are a few resources you might consider as you organize your event:
- Online donation forms are one of the simplest ways to engage with donors in the digital realm. When you include an online donation form on your eventâ€™s website or Facebook page, your networks can quickly complete their transactions without ever leaving your site.
- Fundraising thermometers provide visual incentives to your donors while you track your fundraising progress against your goal. You can also incorporate your thermometer into your event, encouraging guests to give onsite as well.
- Recurring donation features enable your donors to go from one-time attendees to long-term contributors. Your guests can use simple online methods of setting up recurring gifts before and during your event. Since many individuals already participate in online bill pay through their debit accounts, ACH debit processing is a great option for you to promote.
Takeaway: Secure payment processing systems equip your organization with valuable online tools for fundraising and community-building. Taking advantage of such features can help push your event toward success.
Mobile giving can be an integral part of your event. Thanks to online payment processing, your guests can put their checkbooks away at your fundraiser and instead rely on mobile giving options for all their onsite donations. Consider making mobile donations a central part of your event in one of the following ways:
- Mobile bidding software can enhance and modernize your silent auctions. Guests can use their mobile devices to place bids and complete their transactions easily. These services will manage the auction from start to finish, leaving you with more time to connect with donors personally.
- Text-to-give services make giving on the go easier than ever. You can utilize text-to-give software before your event and encourage event patrons to use their smartphones to donate at the event as well. These tools are easy for donors and nonprofits, making them a smart strategy for first-time event planners and veterans alike.
Double the Donation’s Top 13 Text-to-Give Services for Nonprofits is a great place to start when searching for the perfect mobile giving solution.
Takeaway: Mobile giving options make donating at your event easier than ever. Incorporate donation opportunities into your fundraiserâ€™s list of events using simple gift-giving software.
Fraud happens. Avoid it. Unfortunately, youâ€™re probably aware of the prevalence of fraudulent donations. Working with a trusted payment processor will help you steer clear of fraud as you fundraise. Here are a few ways to combat fraud:
- Ensure your processor is PCI compliant. This means that your provider abides by a set of data security standards set forth by the Payment Card Industry. Payment processors who donâ€™t meet these requirements are not secure and put you at greater risk for fraud.
- Set a minimum donation requirement. Many hackers use nonprofit donation forms to â€ścheckâ€ť stolen credit cards by running a test transaction of a very small amount of money. Setting a minimum threshold prevents such fraud from happening on a large scale.
- Review your transactions often. At least daily, someone on your fundraising team should check your donation transactions to monitor for fraudulent activity. Report any unusual patterns to your provider as soon as you can.
Takeaway: The most important element of dealing with online fraud is making sure youâ€™re working with a trusted, secure payment processor. Different processors offer varying fraud prevention services, so educate yourself on what resources are available to you.
In order to integrate online giving into your fundraising event, youâ€™ll be employing some form of payment processing solution. By understanding how this process works and how it affects your event, you can maximize fundraising dollars and make this event your best yet. If youâ€™re ready to incorporate payment processing into your next event, we recommend checking out iATS, a dedicated payment processor whose products and services might be a perfect fit for your fundraiser.
With over 10 years of experience in ecommerce, point-of-sale, and payments, Michael Kim is responsible for strengthening and growing the partner ecosystem through strategic alliances. Since joining iATS in July 2014, heâ€™s successfully fostered relations with over 20 partners and executed countless joint initiatives to enhance the way they work with iATS. In his spare time, Mike is the IT director and worship team leader at hisÂ local church.
Get your Event Sponsored in Five Steps
Present an Organized Sponsor Menu: Provide options for every donation level. Also, make sure your levels are well thought out, in terms of the value they bring. Always start with the highest levels and work your way down.
Brag a Little: Highlight your organization’s history of well executed events..
Click here to read this story in its entirety.