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In Business Insider, James Kosur interviews James Lum, CFO of Guidestar, the nonprofit providing information that advances transparency in the industry, so users can make better charitable giving decisions. Mr. Kosur is the C-suite editor at Business Insider and has worked in new media for more than a decade.

GuideStar’s CFO discusses the challenge of being relevant and making an impact as a nonprofit

nonprofit transparency

James Kosur | Business Insider | 11/11/15
Creating the greatest impact on the causes you care about can be a difficult task. Sure, you can donate to a group that claims to support a cause that is close to your heart, but there is no guarantee that the agency you are supporting is using the funds it collects responsibly. That’s where GuideStar comes in. The company tracks every IRS-registered nonprofit in the US. The social-good platform provides users with information about each program’s mission, legitimacy, impact, reputation, finances, programs, transparency, governance, and more. Business Insider sat down with GuideStar CFO James Lum to discuss the role of the CFO at a nonprofit and the state of the charitable-giving industry.

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How Nonprofit Transparency Can Help Your Organization Improve Fundraising Results

In his interview, Mr. Lum mentions that while nonprofit transparency has improved, it still continues to be an issue for many organizations. He advises those trying to choose the right charity to support to really think about what is important to them, then look for metrics that reveal the organizations making a direct impact in those areas.

Donors are very perceptive to how their donations are used so it’s important to openly share with them the results of your org’s efforts throughout the year. From real-time results at a live event using a fundraising thermometer, or sending out text updates to let them know a campaigns progress, transparency will help keep donors engaged, volunteers excited and supporters confident about the impact their contribution is making to the cause.

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Mobile messaging allows your organization to provide the nonprofit transparency required to keep your donors and supporters informed, excited and ready to give to your cause.

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