More nonprofits are waking up. From stringent regulations and government scrutiny around tax-exempt status and grant compliance, to increasingly intense competition for funds, organizations of all shapes and sizes are realizing the need to implement strong measurement and monitoring programs.
The healthcare sector has been a bellwether for enhanced measurement within the last several years, as its institutions are heavily focused on clinical outcomes as drivers of financial results, prompted by the need to corroborate these outcomes to regulators and payers.
The rest of the nonprofit industry has followed suit. Nearly all organizations now face increased demand for their services, despite simultaneous resource shortfalls and heightened competition for funding. What measurement and monitoring practices offer nonprofits is the ability to stay ahead of this challenging situation. Through providing them with insightful and actionable data, organizations can affirm to funders and regulators alike that their programs and investments are aligned with their missions, and generate meaningful impact for the communities they serve.
With that in mind, here is a closer look into four specific reasons for why nonprofits should double down on their measurement and monitoring programs.
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