Nonprofit groups can benefit from using cash and check scanners to count money and deposit donations throughout the year. As the holiday season continues, many of these organizations have the opportunity to increase the efficiency of their operations by taking advantage of advanced technology.
December is typically the single busiest time of the year for religious and social charities that accept donations from individuals. In the spirit of the season, many people are interested in spreading the cheer to those in need. A recent article published in the Chicago Tribune cited data compiled by the National Philanthropic Trust that found 88 percent of U.S. households contributed a total of $298.3 billion for various causes in 2011. The publication also said the opportunity to receive tax deductions for donating money to nonprofit groups is another major incentive that typically triggers a sharp increase in money sent to organizations during the end of the year.
NorthJersey.com, an online news publication, said many local charities spend months preparing for the holiday donation rush. For example, The Salvation Army Montclair Citadel began its year-end fundraising initiative in August in the hopes of generating the $175,000 necessary to fund the organization's projects through 2014.
Many nonprofit groups put a substantial effort into raising money during the holidays. However, these institutions often overlook the administrative efforts that come afterward, such as depositing large quantities of donations made in checks. This can be an especially time consuming process for organizations that have limited staff on hand. Instead, local charities may want to consider investing in cash and check scanners that make it possible to complete these processes in a matter of minutes, rather than creating unnecessary overhead costs.
December 17, 2013