New York nonprofits can now file financial reports electronically
December 21, 2012
Nonprofit organizations and other charities are becoming more advanced as they invest in new technologies and adapt their fundraising strategies to emerging trends. Some new strategies are more popular with customers, such as electronic payment processing and mobile transactions, but others help to boost organizational efficiency. For example, the New York Attorney General Eric Schneiderman recently announced that groups registered in the Attorney General's Charities Bureau can file their financial statements electronically.
"E-Filing marks another step towards reducing burdens on charities and promoting transparency," Schneiderman said. "Now the public and funders will have immediate access to information about charities they seek to support and reporting procedures for charities are simplified."
More nonprofits would like to be able to e-file in the future so they can see a number of benefits, including greater transparency
because financial information will be submitted and reported sooner, according to a survey by the National Center for Charitable Statistics at the Urban Institute (NCCS), as reported by Guidestar. Ultimately, this could contribute to greater public trust and enhanced fundraising success.
As foundations tap into emerging digital channels to file reports raise funds online
, they might find they can benefit from nonprofit fundraising software
that tracks incoming donations and quantitatively measures the success of their efforts.