Funders are increasingly focused on measurable results, and technology initiatives are not exempt from this expectation. To prove an investment is worthwhile, nonprofits must show that the net gain will be more than the cost. But in our attempts to calculate return on investment, nonprofit leaders have too often focused on the wrong numbers.
Search the internet for advice on calculating return on investment (ROI) for technology, and you’ll find equations based on cost savings and efficiency. The image in this blog post is an example we often use at Idealware.
I asked Janet Miller of the William S. Abell Foundation that question. Find out what she said and learn more about my own thoughts by reading the rest of this post on the Foundation Center's Grantspace.org.
The Foundation Center is also hosting the upcoming webinar, How To Find and Win Technology Funding, from 2 to 3 pm ET on November 9. Idealware Expert Trainer Sarah Beaulieu will share her perspective and present wisdom gleaned from our numerous expert interviews and more than a decade of observation of technology funding trends and best practices.