Blog

Covid exposed many nonprofits’ economic Achilles heel by taking away the ability to fundraise in person. This sector saw a huge downward slide in both corporate and individual gift giving. Direct calls, in-person meetings, and large events all had to be re-evaluated. Through the struggle, some nonprofits found alternative way to succeed in this new fundraising landscape. Here is what seems to be working.

1. More Transparency: There is a higher expectation of transparency today. It is no longer enough to be a nonprofit and rely on your past reputation to grow your fundraising goals.  Especially with younger generations, nonprofits need to show how to keep up with current times, how to transform for today’s needs and evaluate how to help future generations. People want to be able to see the impact of the nonprofit; what communities or groups it affects, the nonprofit’s mission and implementation process and the breakdown to where those dollars are directly going to make that difference.    Telling the story on social media platforms, connecting with the communities, and hosting virtual events to make it easier for busy people to participate in those events with a cause close to their hearts.
2. Digital Fundraising Currency Platforms: Nonprofits are saving on mailers and pamphlets costs and shifting the focus to digital currency platforms.  Creating one step donation opportunities through smart phones creates an ease of execution for the donor.  This will continue to evolve and be the new initiative for today’s nonprofits.  Recurring donation options are also becoming popular as the new way to give without having to commit to multiple in person events or seasonal mailers and phone reminders.  The recurring payments are also proving to be a new way of receiving larger overall donation amounts and higher retention rates overall. 
3. Virtual and Hybrid Events: The final new trend in fundraising is virtual events.  We have seen the large crowd gatherings start to change to individual option events, for example a 5k traditionally run with a mass crowd that has now transformed into individual runners keeping and tracking their own time and donations.  Some events are giving individuals the option of being in person or virtual; this method ensures that everyone feels comfortable and therefore are not losing potential donors who may have otherwise not participated at all.  Online auctions have evolved as well, the sophistication of technology also allows for a larger pool of participants that what would traditionally had to be in person only events. 

There will continue to be new emerging trends as we go forward, separating those nonprofits who embrace the changes from those others who choose not to adapt.  Being in the field for so many years, I am happy to see that nonprofit fundraising has transformed from traditional methods into the wave of the future with technology at our fingertips.