Giving season is here. Non-profits who maximize the opportunities of this time could take in as much as half of their annual donations – and build a pool of sustaining givers. Here’s what to know about 2024 giving trends and how your non-profit can make the most of donors’ generosity.
Donors are Cost-Conscious
The 2023 Giving report showed that when adjusted for inflation, overall giving dropped 2.1% in 2023. With the cost of living soaring, donors are tightening their belts – and giving less. When approaching donors in the current environment, non-profits should be mindful of the economic squeeze on individuals and consider options such as micro-donations or gift-matching to help encourage giving.
Corporate Giving is Up
The good news is that while individual donations are down, giving from foundations and corporate donors is on the rise. Foundation giving in 2023 rose to $103.53 billion – up 1.7% on 2022 numbers – and it’s anticipated that foundation giving will account for 22% of all giving in 2024 and 2025. To tap into foundation giving, personalize the outreach experience, provide multiple ways to give, encourage the giving of Donor Advised Funds (DAFs), and strategically apply for grants.
Repeat Giving is on the Rise
While individual giving is slowing, a new trend is the rise of repeat giving. From 2018 to 2022, repeat giving rose 127%. While repeat giving pools still remain fairly small, there’s clear potential for non-profits to court recurring monthly or quarterly donors – especially since repeat donors continue to do so for an average of 8 years! To nurture repeat giving, add a recurring donation button to your website and outreach materials, provide a variety of ways to give, and keep your donors updated on the impact of their giving – for example, when you send the receipt for each donation.
Make the Most of Donor Trends
Don’t let donors pass your non-profit by – especially with giving season coming up. Make the most of current trends in giving by:
- Understanding changing demographics. Major donors tend to be older than smaller donors and prefer traditional outreach options, such as face-to-face, mailouts, and phone calls. Younger donors prefer to be reached via text or online options.
- Segmenting your donor outreach. Understand your donors’ backgrounds, giving capacity, and giving history. Targeting a small donor requires a different approach than targeting a major foundation or corporation, so segment accordingly, using appropriate storytelling, reasons to believe, and financial targets.
- Showing your support for donors. Donors want to help – and they want to know that their donation has made an impact. Create a narrative around each campaign, highlight the benefit of each donation, and let your donors know how grateful you are. Keeping donors in the loop about their impact builds trust and encourages future giving.
Finally, make sure that your non-profit is leveraging the power of an end-to-end donor management platform like ACD’s. Our platform connects to your existing business processes, helping you pull data, push messaging to a variety of channels, and keep you up to date on trends and proceeds. We even offer easy Text-to-Donate functionality—plus gift-matching options! To supercharge your giving during this year’s giving season and into 2025, reach out to our team!
