Charity organizations typically have high standards for accuracy when counting money collected through short-term fundraising events. Miscalculations can have a negative impact on long-term credibility and success. As a result, cash counters are an especially sound investment for groups that depend on the ability to keep track of large amounts of money.
Iowa State Daily, the student-run newspaper at Iowa State University recently reported the organizers of an annual fundraising event miscounted the total amount of money they collected. The dance marathon, which raises money every year for Iowa Children's Hospital, was unable to keep track of offline donations in addition to an online portal that automatically counted electronic payments. The organizers initially claimed they had raised a total of $388,477.16. However, the newspaper said the amount of money raised was actually $61,445 less. Even though the dance marathon event occurred on Jan. 26., organizers didn't notice the error until August because that's typically when the Children's Hospital requests the remaining offline donations.
Dance marathons are popular events at universities across the nation. According to the Indiana Daily Student, a newspaper published at Indiana University, students will host their 36-hour fundraising event later this month in support of Riley Children's Hospital. The IU Dance Marathon website said the annual event has raised a total of $14 million since 1991.
Fundraising organizations, whether run by students or nonprofit professionals, often depend on a variety of channels for accepting money. An advanced cash counter can help these groups improve the accuracy of the amount of offline donations they receive. Rather than manually counting large amounts of cash, an automated machine can eliminate the risk of errors and ultimately speed up the counting process so organizers can focus on other important issues.
November 8, 2013