A performance indicator, or KPI (Key Performance Indicator), is an essential tool for measuring the effectiveness of an action in relation to a specific goal. For a nonprofit, KPIs act as compasses that help track the progress of initiatives, identify areas for improvement, and demonstrate the real impact of actions to stakeholders, including partners, funders, or even beneficiaries.
Data tracking is crucial to propel your mission forward. Here are some key KPIs to track:
- Number of beneficiaries served
- Donor retention rate
- Number of volunteers engaged
- Funds raised
By monitoring performance indicators, your nonprofit can adjust its efforts in real-time and ensure that each action contributes to your cause.