The Benefits of Having a Digitally Savvy Nonprofit Board

Why tech should be a key ingredient in your nonprofit.

 

There’s no doubt that companies with digitally literate board members significantly outperform their peers on key metrics. Doing business in the digital era requires board members to understand cybersecurity risks, privacy issues, and how/why to get on top of digital marketing.

 

What’s more, companies have more to lose from lagging behind the digital revolution than from taking on new risks. As a board member, you should fear AI, automation or the rise of robots. Instead, you should have a healthy fear of falling behind.

 

Believe it or not, but companies with three or more digitally savvy directors have 17 percent higher profit margins, a 38% higher revenue growth, and a 34% higher return on assets. Directors on digitally savvy board have an understanding, tested by experience, of how digital technologies impact the way that companies will succeed in the next decade.

 

Times are changing – and so is the audience. Millennials are deeply connected with technology and they will soon be the next generation of donors to your institution. It’s wise to have a board of digitally savvy people in order to understand the Millennials and know how to attract them.

 

Do you have a digital savvy nonprofit board? Contact the experts at Colorado Nonprofit Insurance Agency, part of HUB International in Denver, Colorado at 303-894-0298. Make sure that your nonprofit is properly covered. We will work with you to ensure you have optimum coverage in place.