Why Your Nonprofit Needs a Virtual Data Room for Fundraising
18 January, 2023Fundraising is the foundation of any nonprofit organization. Donors, community partners, and government agencies provide the funding necessary to meet the nonprofit’s mission goals. While the nonprofit may pride itself on transparency, the organization must also meet a mission goal to protect the privacy of its clients:
- Vulnerable populations in our communities, especially seniors, children, and low-income families. The organization must ensure that documents that contain names, social security numbers, medical records, and other personally identifiable information (PII) are kept secure
- Donors, both individuals and organizations. The organization must protect documents that list donors and provide their financial information
Failure to adequately protect these confidential documents not only threatens the organization’s mission and finances but also can result in civil and criminal legal exposure.
Use a Virtual Data Room to Protect Confidential Documents
While nonprofits typically lack the financial resources of for-profit companies, these organizations can make modest outlays to protect their sensitive data: an online virtual data room (VDR). ShareVault has extensive experience in finance, healthcare, and biotech, all areas that require rigorous protections for client lists, including HIPAA-regulated PII. ShareVault’s support staff can help a nonprofit improve their cybersecurity so they can continue their missions.
Below are some reasons why your nonprofit needs a VDR for fundraising.
Security
When fundraising, your organization may need to disclose confidential information about the organization’s costs, revenues, and other financial data. A ShareVault virtual data room provides a secure way to share such information with current and potential donors.
Access to files is carefully controlled. ShareVault security measures include two-step login authentication, user usage controls (e.g., ready-only, cut/paste, screenshot, print, download), start and end dates for access, and identification of the user’s device IP address. The documents themselves are encrypted with the security industry’s highest standard, AES-256, and are protected in transit using HTTPS over Secure Sockets Layer (SSL).
These safety tactics work to prevent unauthorized access, data leaks, and hacker cyber attacks.
Organization
A nonprofit’s fundraising process can be complex, involving dozens or hundreds of documents. ShareVault makes secure document sharing easy:
- Your appointed VDR administrator names folders and then simply drag-and-drops as many documents as needed
- The administrator identifies those parties who need access and supplies them with passwords. Users can access the VDR using virtually any device, at any hour, anywhere in the world
Efficiency
Using a VDR for fundraising can be much more efficient than traditional methods. A ShareVault VDR streamlines communications among stakeholders, and they can move ahead confidently knowing they are working with real-time document updates.
When a fundraising campaign is successful, ShareVault makes that easy, too: ShareVault integrates with DocuSign without ever leaving the protected VDR environment. Users will still have use of DocuSign features, such as signature placements, form fields, template design, and the eSignature workflow flexibility.
Choose ShareVault for Your Virtual Data Room
A VDR is a great tool that can help nonprofits communicate effectively with potential donors and manage fundraising efforts in a secure and organized way. ShareVault helps guarantee secure document sharing by providing extensive controls over sensitive document access and user permissions. We secure sensitive data, improve your company's efficiency, and reduce operational costs.
Contact ShareVault to learn more about how we can turbo-charge your nonprofit fundraising campaign!