Tech innovations in the nonprofit sector are growing faster than ever. From cryptocurrency to robotics, these technology ideas for nonprofits can help your nonprofit to both compete for every donation and become a more efficient workplace. These smart tech suggestions aim to give you some fresh ideas for your nonprofit. And from cryptocurrency to remote offices, some may give you a different perspective on some technology you’ve been working with already.
Cryptocurrency
While this isn’t exactly one of the newest technology ideas for nonprofits on the block, it is becoming more relevant and even critical to nonprofits, every day.
What is it? Cryptocurrency is a complex online system that uses cryptography (or extremely complex encoding, called blockchain) to create virtual currency. To put it more simply, it’s like a dollar bill that exists on the internet that is almost impossible to counterfeit. Online currencies are often not regulated and can be difficult to manage. They often exist in somewhat of a gray legal area where there is no official government supporting or regulating their value. And some nations have taken steps against crypto, while other nations have moved to support it. Individual kinds of online currencies can have different rules or limitations placed on them by their creators. For example, there may be a total limit on the amount of currency in circulation. Or a schedule for when a new currency is released of one type or another.
Why does it matter? Despite what may seem like a dubious support structure, cryptocurrencies have exploded. The most popular currency, Bitcoin, currently (as of Jan. 21, 2022) is valued at around $36,000 for one. That’s right, one bitcoin is the equivalent of $36,000. That probably instantly grabs your attention and shows you just how much money that could be at play here for any nonprofit. Like any currency, the exact exchange rate can vary and fluctuate, and cryptocurrency does tend to be more unstable than most. For example, over the past six months, Bitcoin has had lows around $29,000 and highs around $67,000.
But more importantly, cryptocurrencies can mean massive amounts of money and a very quickly growing market of investors and curious laymen that are taking part. Overall, an estimated 16 percent of Americans say they have personally invested or traded in cryptocurrency at some point, according to a Pew Research study. That percentage equates to about 50 million people. Of that, young people, 18-29 are using it even more, with 31 percent saying they have invested or traded it. Broadly, it’s fairly well represented across all classes and incomes. For example, 17 percent of high-income, 17 percent of middle-income, and 15 percent of low income say they have used it. And even more importantly, it’s growing, almost doubling from an estimated 15 percent in 2019, according to Statista.
OK wow, now what can I do? How you leverage this massive, quickly growing market of cryptocurrency is pretty easy: simply set up a system that can accept payments. A system like “The Giving Block” allows nonprofits to fundraise and accept cryptocurrencies in an automated system and provides resources to learn more about it. The Giving Block and other companies make this one of the easiest technology Ideas for nonprofits to implement.
NFTs (Non-fungible tokens)
Now you may have been somewhat familiar with cryptocurrency, but NFTs (or non-fungible tokens) are one of the newer technology Ideas for nonprofits. NFTs use the same extremely complex encoding to create virtual items, not currency.
What is it? The key difference is NFTs are not “fungible” which means these items are not directly exchangeable for other currencies, like other crypto or cash. There is no normal exchange rate for them. These non-fungible tokens can be thought of as more like one-of-a-kind investments, like a piece of art, real estate, or sports trading cards. while they typically have assessed value to similar items that have sold, the actual value would be decided when you actually do sell it and set by what the buyer is willing to pay.
Tokens can come in the form of almost any digital file, although image files are probably the most common form. The key difference between an NFT and just a regular image file on your computer is that an NFT is secured by the same blockchain encoding as cryptocurrency.
Why does it matter? While it may sound kind of odd that an online image could be considered a valuable investment, some very serious amounts of money have been trading hands over tokens. For example, since these items are investments, famed auction houses like Christie’s have been holding auctions for top NFTs. In October, Christie’s sold five digital works of art NFTs for just over $1.2 million.
But it is important to note that NFTs are far newer and not nearly as popular as cryptocurrencies. While this could offer an opportunity of getting in on the new “hot” idea closer to the ground floor, it could also come with risks if it fizzles out. Notably, the numbers aren’t as big for NFTs in comparison to general cryptocurrency. It’s estimated that about 250,000 people trade NFTs on one of the largest marketplaces, OpenSea, according to CNet. While that’s far lower than crypto trading, there are also some unique opportunities that cryptocurrencies don’t offer.
OK wow, now what can I do? NFTs, while riskier, also present some new possibilities, like partnerships with artists, particularly known NFT artists. For example, the artist Beeple held an auction for one of his pieces on Twitter for the charity Open Earth Foundation and raised $6 million dollars. That’s right, $6 million dollars for one charity in one sale.
This kind of possible partnership with any celebrity or artist could lead to a new untapped revenue stream for nonprofits. No, it won’t likely lead to $6 million for every nonprofit, but a fun idea for a fundraiser on a smaller scale could be to introduce the technology ideas for nonprofits of NFTs to your local/regional communities, where they can say they “purchased a trendy NFT” for a good cause.
These partnerships don’t have to be with just a single celebrity or artist. For example, they can be with businesses like Charmin Toilet Paper. They recently did an NFT advertising campaign, but the proceeds of the sales went to Direct Relief Charity. Remember, too, doesn’t have to be a big, Fortune 500 business, it can be a smaller, local business.
Even if you don’t have the massive success of the above examples, you will still almost certainly expose your nonprofit to a new group of possible donors. And it’s a group with a clear interest in this type of fundraising.
You can find programs that will help you create NFTs for your nonprofit, or work with local businesses or artists that are more familiar with the technical details.
The Metaverse
This is one of the newer technology ideas for nonprofits and may seem a little weird if you’re not familiar with it. The metaverse is the sum of all shared virtual spaces, and you’re probably thinking “that sounds pretty vague and expansive?” and you would be right. But what exactly does that mean?
What is it? As stated above, it’s what people are calling the sum of all shared virtual spaces. This even technically includes cryptocurrency and NFTs, the new technology described above as they exist in a shared virtual space, namely the exchanges and auction sites. But more often, when people are discussing the metaverse now, it’s focused on VR (virtual reality) and AR (augmented reality).
Virtual reality is when someone joins a virtual world, usually by putting on a VR headset and participating in activities inside that world that only exists in a computer program. VR gaming is a great example of this. Augmented reality is when you introduce digital elements into your perception of the real world, like looking through a phone or special glasses. You can think of it as an added ‘filter’ for a video or photo you take on your phone.
A great example of the metaverse could be the movie, “Wreck-It Ralph.” A collection of digital worlds, but instead of a video game character you can access it with a VR headset. Everyone else who has a VR headset can also access this world along with you. You can have events or meetings or play games inside the world; maybe even go to a virtual store, a virtual bank, or a virtual workplace.
Now you still may be a little confused about how it works exactly, and perhaps the easiest way is to look at this video created by CNet that pulls together several Facebook/Meta videos that describe how just one company, Facebook is working inside the metaverse:
For example, different rooms and “worlds” could contain anything from social spaces to businesses, to spaces for nonprofits or governments. Businesses and organizations would have an entirely new “storefront” to attract customers or donors. Facebook is helping to provide some resources to groups, like small businesses for example, to get started in the metaverse.
Really, the metaverse concept is just starting. In fact, Facebook recently opened up part of their metaverse to the public, called Horizon Worlds just this past December. Horizon Worlds is an animated virtual world that allows users to play games and interact with others in the space.
But it’s not just limited to Facebook. The metaverse is anyone working inside the virtual space. Another example is a mansion that exists in real life, but it was re-created in a virtual form in the metaverse by ONE Sotheby’s International Realty and if you like it, you can even buy the real property in the metaverse, using NTF technology, of course.
Why does it matter? As the metaverse grows, it will likely have access to a potentially completely new group of donors, volunteers, and clients. As major players like Facebook/Meta are already on board, it shows that the impact may be far-reaching, but accessible.
Early adoption usually helps. For example, we know that Facebook’s algorithm often helps early adopters with extra views and attention in other Facebook ventures. This will probably be no different. In other words, when Facebook is looking to promote this new space, they will be looking for people and organizations who are using it. If you are using it, they will likely promote how you are using it and do anything they can to help you be successful in that new space. While the exact future of this metaverse is unknown, Facebook does seem determined to put a massive amount of resources into giving it a strong run. And they’re not the only company.
But as the metaverse grows, it could become an invaluable resource for years to come. Fundraisers (of almost any type), events, meet and greets, auctions, education seminars, and more could all be held in this virtual space. It could redefine how charities work with the public and approach new younger donors, as well as those who may face barriers to in-person accessibility.
OK wow, now what can I do? Well, it’s still very early. That’s both a good and bad thing. You can have a larger impact in a fresh space that could be hungry for new content, but developing content for a new space can be tricky and experimental.
Ideally, you could hopefully find a partner that has some experience in the virtual reality space, which could range from programming to art.
You can also purchase a VR headset and visit what is available so far. There are already open social spaces (Horizon Worlds), a “main street” for businesses. New spaces and worlds are opening up every day.
Creativity could be an early key to unlocking a lot of what the metaverse has to offer.
Robots
Not only cyber technology is changing, but also the real-world application of how nonprofits function in the basic production and deployment of services. It’s long been known that businesses, factories, and warehouses are becoming more automated. It’s only natural that nonprofits would follow.
What is it? Robots and machines! We’ve all seen the automated registers at our local grocery stores., We have likely seen images from inside an Amazon warehouse, a “warehouse” of robotic arms physically scanning and moving items to where they need to be placed for processing along conveyor belts. And it’s coming to nonprofits.
City Harvest and the Greater Boston Food Bank in Massachusetts have partnered with Berkshire Gray, a robotic and artificial intelligence company, to automate some of the very basic functions of a food bank, like sorting the food. perfect sense in the pandemic why a nonprofit could look to services like this, especially during the pandemic.
Why does it matter? Three words: Staffing, volunteers, and efficiency. Simply put, if robots are doing the busy work, your staff, and volunteers can be out in the field actually raising funds and creating new opportunities. As the labor market tightens, it can be a great way to reorganize staff and potentially cut labor/HR costs.
As robotics and automation technology continues to increase, the costs for these services will likely decrease, making them more accessible to nonprofits on a budget. Of course, if you have a charity business partner that specializes in robotics or automation, it can be a great asset if you want to take on the challenge of automation.
OK wow, now what can I do? Due to the size, potential cost, and complexity of these systems, an immediate turnaround may not be very likely for these kinds of systems. However, it could be a great solution to keep in mind for long-term planning and strategy for nonprofits or a future problem, as the labor market may continue to shift.
Due to the complex nature of the systems, the actual designs and implementation of robotics could look very different from one charity to another. A charity that deals with a massive amount of products or stock could use it to process that stock, like a food bank. While another nonprofit that deals more with services could get automated kiosks or registers to help process volunteering staff, customers, or clients, like a counseling center or a Goodwill store.
Also, as we’ve already mentioned, it might be a good idea to build a relationship with any local automation/robotics companies about potential partnerships between their business and your charity. Of course, you could start small, with simple fundraisers or sponsoring of events. That groundwork could pay dividends as the world continues to become more automated and complex.
Virtual office/Cloud access
One of the last technology ideas for nonprofits isn’t very surprising and has become a huge issue over the past few years in a pandemic as more people are working from home and traditional offices have started to close for some nonprofits and private businesses alike. A lot of nonprofits are actually leading the way in this area and thus needs to be discussed.
What is it? Working from home has become pretty common for many nonprofits, and if you don’t work from home, you probably know someone who does. In short, remote/cloud access is having a working system that allows anyone to access the tools and management system to do their work from anywhere with internet access. Meetings can be held using video conferencing and presentations can be discussed and shared via presentation features in video conferencing.
This typically involves a variety of different programs that come together to fill in all the needs and requirements of a normal office, in both work product and communication.
Why does it matter? This is another great example of another staffing issue solution. Simply put, hiring today can be difficult and if you are in an area that has a high demand for employees, widening your search can give you a lot more options. And when you go to a virtual office, you can hire from anywhere. Local salary requirements and costs may not be an issue anymore. That being said, cultural differences can occur the farther away hires become and even timezones can impact the workday schedule.
Also, just the costs of having a physical office can be a major burden. Even if a nonprofit wants to keep key office locations, some other locations may be able to be shut down with less impact. Many nonprofits are finding these benefits outweigh any issues or problems they may have.
According to a Nonprofit HR study, 69 percent of nonprofits have the ability to allow their employees to work from home, and the same number, 69 percent, say they are considering keeping remote workers when the pandemic ends.
OK wow, now what can I do? If you are new to the remote office game, you can start by looking at your work systems and making sure they are remote-worker friendly. There are many companies that offer a variety of technology ideas for nonprofits work from home solutions, for everything from CRMs to marketing and communications to security tech solutions, like web design and page creation.
If you’re not new to remote work, you can always find methods to address the problems you may be experiencing. There are often issues with using different programs on a variety of platforms and services when working with another group remotely. Making sure everyone has access to the same systems and files can help ensure that everyone stays on the same page figuratively, but even literally.
As technology ideas for nonprofits continue to change, nonprofits will have fantastic paths to take advantage of many new opportunities to meet their goals, and that can introduce them to a whole new set of potential donors, from next door to around the world. Keeping up with what’s available and what works best with your nonprofit short and long-term strategies can hopefully allow you to make the most of what’s new and on the horizon, from cryptocurrency to robotics.