Fundraising In 2008: The Good News, The Bad News
Last month, Giving USA released their summary of giving for 2008. I’m a optimist, so lets talk about the good news first:
Good News
* 2008 was the second highest fundraising year on record (2007 was the first)
* Individuals, corporations and foundations still gave more than $307 billion
* Foundation giving remained relatively stable
* Analysts expected a significantly higher drop in fundraising
The Bad News
* The $ 6.42 billion dollar change in giving from 2007-2008 is a decrease of 2% or -5.7% adjusted for inflation.
* 2008 marked fundraising’s sharpest decline since 1974
* Since foundations set their giving on a 5 year yield, we may see decreases in their financial support in the next few years
* According to Charity Navigator, It will be quite some time before contributions pick up. Historical data shows that it took three years for giving to rebound after the recession in 1974
My Recommendations
Despite cutbacks, individuals gave $229.28 billion last year. Cultivate your individual donors, or consider starting your organizations individual donor campaign if you have not already done so.
Build and strengthen your relationships with all donors: individuals, corporations and foundations
Diversify your fundraising efforts. Create a strategic fundraising plan with a broad reach. Such a plan should target income from a variety of places, including individual donors, corporations, and foundations, as well as earned income from special events and the sale of products and services.
Remember that the best way to stop raising money is to stop asking for it!
Here’s a breakdown of GAVE the money last year:
And Here’s who Got the money last year:
Check out a few additional perspectives on the results:
Check out How much did Americans really give in 2008?
