Sunday, April 27, 2014

Greatnonprofits: An Introduction

By Sebastian Troup


Many people wouldn't go to a restaurant without checking out its reputation online. Did you know you can also do the same with your charitable causes? With over 1.5 million nonprofits in the United States alone, there is a lot of information to wade through when considering the right recipients for your charitable giving. But a new partnership between Truist and GreatNonprofits will soon help make information more accessible for donors.

It appears that GreatNonprofits is the largest of these online social review sites for charities. Being a nonprofit itself, GreatNonprofits cater to more than 200,000 user-generated reviews done on more than 17,000 nonprofit organizations. You will find people personally telling about their experience with nonprofits and giving their reviews and ratings. For charities, this is like your Trip Advisor or Yelp. Being crowdsourced, GreatNonprofits is the site where you will find reviews of all kinds and from group sizes. Charities can then have their fair share of recognition regardless of their marketing budget because here people give feedbacks based on personal experience.

With Truist's corporate philanthropy platform, GreatNonprofits was found to fit perfectly. There will be an integration of the social review date in order for Truist users to have easy access to information in terms of giving to charities. Their own reviews can also be added to the database. It is expected that this merging will truly result to stronger employee giving solution where it is incorporated in real-time reviews as well as feedbacks.

That feedback is proving to be valuable to nonprofits because it helps them reach new supporters and highlight their accomplishments. For example, Oral Cancer Foundation in Newport Beach, California sent an email to major donors highlighting some of its reviews on GreatNonprofits. As a result, two new donors each gave $50,000 to the organization and another donor awarded $300,000 in unrestricted funding. With a typical annual budget of just $200,000, this organization's opportunities exploded with these donations.

The open-access forum GreatNonprofits provides for charities is in line with the shift to transparency so many organizations are making these days. Transparency is about putting information out there and no longer hiding behind secrecy around the operations of an organization, especially its financials. With so many choices available for donors, especially around this time of year, the GreatNonprofits' technology is welcome for people doing research on the best charity to receive their hard-earned money.

The reviews provide charities with valuable material they can use for marketing their services. Operation Understanding in Washington, D.C. attracted 188 reviews last year and is incorporating quotes from those reviews in its new brochure and other marketing material. The organization is also attributing additional fundraising to the reviews, despite the difficult economic climate.

With all of these benefits, there's no question that having access to more information not only benefits donors as well as the charitable organizations. Look for a complete implementation of GreatNonprofits' data in Truist's software suite within the next year.




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