Raise More, Worry Less: How to Safeguard Your Nonprofit’s Funds

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As a nonprofit, you work tirelessly to raise funds, and it’s important to ensure that every dollar raised goes towards your mission.
The shift towards online fundraising has opened up a world of opportunities for nonprofits, allowing you to reach potential donors from anywhere and at any time. This transition has also brought new risks that nonprofits should be aware of. Donation processing poses a significant risk to your nonprofit organization, both in terms of reputation and finances.
We’ll discuss the potential risks associated with donation processing and provide proactive measures you can take to safeguard your nonprofit’s funds.
No one wants to think about the “What if”. We get it. But this doesn’t have to be a place of anxiety. Understanding the potential risks will help you know what to look for when considering how you can safely process your donations.
Here are four key risks that your nonprofit should safeguard against:
We understand that nonprofits work tirelessly to raise funds for their cause, and it’s important to protect those funds from all potential risks.
In a recent cautionary tale, nonprofit organization Queens Together encountered a scam known as the “credit card test attack.” Unfortunately, fraudsters took advantage of their payment processing system and racked up over $5,500 in transaction fees.
By sharing this story, we hope to encourage nonprofits to prioritize the security of their payment processing systems, taking steps to choose a system that helps protect from fraudulent activities and ensuring their resources are utilized for their causes.
Is your payments processor actively protecting your nonprofit from fraud, chargeback feeds and downtime? If not, there is a solution that will — learn more about Bloomerang Payments.
We all know that offering a payment method that allows for online and in-person payments via different methods is essential for nonprofit organizations.
It’s crucial to review payment processors carefully to ensure that they meet your organization’s needs and protect against potential risks. Below are a few questions you can ask your payments solution to ensure your nonprofit funds are protected.
You know the importance of safeguarding your funds and that starts by understanding and mitigating payment processor risks.
We are here to help your nonprofit thrive, and if you are considering a payments solution that is committed to protecting your nonprofit from fraud, chargeback fees, and a consistent donation experience — learn more about Bloomerang Payments today!
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