CCS Fundraising’s 2024 Philanthropic Landscape report highlights positive news like the resilience of charitable giving despite economic challenges, but also underscores the growing importance of technology and the need to adapt to new giving trends.
Here are some key takeaways from the report, released earlier this month, and what they mean for nonprofits:
- Data + AI = fundraising powerhouse: The report stresses that data quality is no longer optional, but essential for unlocking the potential of AI in fundraising. This means investing in robust data management practices, breaking down data silos and building a culture of data literacy within the organization. Nonprofits shouldn’t just collect data; they need to use it strategically to personalize donor engagement, predict future giving and tailor fundraising campaigns.
- The rise of collaborative giving: Whether it’s giving circles or strategic partnerships between foundations, collaborative funding is on the rise. Nonprofits should demonstrate the value of this approach to potential funders, emphasizing its ability to amplify impact and tackle complex challenges.
- Monthly giving, major gifts and planned giving: The report forecasts total giving to continue growing in the coming years, despite a continued decline in the number of donors. Monthly giving (especially online), major gifts and planned giving will continue to be key sources of funding for nonprofits, especially as current economic and demographic trends continue.
Beyond these takeaways, the report offers valuable insights into sector-specific trends, such as the continued growth in charitable giving to the human services and education sectors, and the decline of donations to religious organizations.
To learn more about the philanthropic landscape, visit RSM’s nonprofit industry page.
The overarching message is clear: the philanthropic landscape is changing. To thrive, nonprofits must embrace data-driven decision-making, explore new avenues for collaboration and adapt their fundraising strategies to navigate the opportunities and challenges that lie ahead.
