One of the firm's attest clients, a nonprofit organization, was attempting to develop an industry benchmarking dashboard for managing and monitoring federated campaigns. A requirement of the dashboard was the ability to provide reporting to internally monitor fundraising performance against industry benchmarks on a real-time basis.
The firm established an engagement to research these industry metrics and report the results to the client’s management for integration with the dashboard. The firm used the Sageworks’ Industry Data and Analysis Report to identify relevant benchmark industries for the client. The firm then mined into those industries and compiled the pertinent ratios which were reported to the client’s treasurer. In order to maintain independence the firm required the organization’s management to accept responsibility regarding the adequacy and results of the procedures performed.
The treasurer was able to incorporate the benchmark metrics into the dashboard and use them to help monitor the organizations own fundraising efficiency and effectiveness. This further helped the client to improve their internal control over monitoring of grant making and fundraising activities. The firm was able to further strengthen their relationship with the client. Going forward the client looks to the firm as a trusted advisor who can provide relevant and reliable industry data for monitoring their operations.