Philanthropy has mainly impacted the way we live and cause for humanity. The increasing ways in which people learn the importance of generous donations for the good of society is encouraging.
Despite an increase in the number of donations, there is a trend that might affect the future of philanthropy. According to the Fundraising Effective Project (FEP), a charity’s future is shaped by existing trends.
Less frequent large donations
Donors are giving more enormous contributions but less frequent. Most of those large amount donors give out donations as an end game to reduce their taxation. Donating with a motive of gaining from the charities is damaging the future of philanthropy. Middle-class-level donors are gradually disappearing from charity organizations.
Incorporate technology to find donors
The recent year’s social media has provided platforms for charities. Support for those in need gets rallied on social media. The donors contribute willingly. Pages like Go Fund Me allow donations to deserving individuals and projects.
The school advancement professionals need to fund research on using social media to find new donors. The professionals should strategize ways to make sure that baby boomers continue giving.
The younger generation chooses to invest their money instead of giving
The millennials and gen-z are not so much into giving out donations ideas. Most of the younger generations use their money in places they are guaranteed a return on investment.
The school advancement professionals should fund research to increase the number of donors. More materials need to be available on the internet and national TVs to inspire people to donate more.
Giving donations with a motive
Larger organizations and influential people are giving out more significant donations to create a particular public image. The contributions might help charity organizations with their projects, but manipulative gifts harm the main aim of giving.
The increasingly large amount donors do not guarantee philanthropy with their donations. Non-profit organizations should find ways to increase genuine contributions from the lower level and mid-level donors.
Several factors impact the future of philanthropy. Social media has played a significant role in positively shaping the future of philanthropy. Change in tax code has increased fake donors avoiding taxation.
Stakeholders in charitable organizations should strategize ways to change the outlook of fundraising. The organizations can therefore create a transparency plan to reduce wicked contributions.