Have you ever wondered how much money the education foundation is spending on fundraising costs, human capital, in-kind donations, etc. and compare that amount with the revenue received? Best practices indicate the importance of reviewing the time, resources, and return on the fundraising initiatives by our volunteers and staff to best meet the stated mission and fundraising goals. This involves analyzing current fundraising activities including events, annual campaigns, unrelated business income, endowment campaigns, employee giving campaigns and other initiatives to raise funds for the foundation.
The purpose and benefit of a development audit is to confirm the return on the investment by the foundation and discuss as a board of directors if this return is satisfactory. A process is conducted to gather the data through the following:
Analyze fundraising initiatives individually for each campaign
Audit data and compare fundraising costs to revenue received
Create written audit report with consultant observations