We are excited to share our insights from the Giving USA 2023 report, which offers an in-depth view of the ever-changing landscape of philanthropy and the new opportunities to grow your philanthropic community. These findings are so important in shaping our fundraising strategies and we hope you learn a thing or two!
On July 14th at the Southern Arizona Chapter of the Association of Fundraising Professionals monthly member meeting, we were fortunate to hear from Richard Tollefson and Cheryl House of The Phoenix Philanthropy Group, regarding their perspectives on the Giving USA 2023 Report. During the meeting provided a comprehensive analysis of the data and offered valuable insights into optimizing fundraising performance strategies.
Here are some key insights gained from this presentation:
Phoenix Philanthropy Group, 2023.
Phoenix Philanthropy Group, 2023.
Economic Trends and Giving Patterns
In tandem with the evolving philanthropic landscape, the Giving USA 2023 report highlights the synergy between technology and traditional methods of engagement. Technologies such as social media, emails, texts, QR codes, and direct mail have become critical methods for connecting with donors. The report underscores that donors are comfortable embracing these technologies, allowing us to communicate more frequently and effectively, enhancing our ability to seek support. Thank you technology for making our lives easier!
The report also provides insights into the use of technology devices for giving:
- Gen Z: 37% use desktops; 91% use smartphones; 48% have made a gift using a smartphone or tablet.
- Millennials: 36% use desktops; 93% use smartphones; 47% have made a gift using a smartphone or tablet.
- Gen X: 38% use desktops; 96% use smartphones; 41% have made a gift using a smartphone or tablet.
- Boomers: 52% use desktops; 87% use smartphones; 27% have made a gift using a smartphone or tablet.
Strategic Communication and Donor Motivation
The data from the report emphasizes that while consistent communication is pivotal, donors still value a compelling reason to give rather than generic appeals. This insight shows the importance of aligning our communication efforts with impactful storytelling that resonates with our donors on a personal level.
Diverse Giving Vehicles
The Giving USA 2023 report shows a fascinating trend in the usage of diverse giving vehicles. Donors are increasingly using vehicles such as Donor Advised Funds, Bequests, family foundations, and even stocks to contribute to causes they care about. This diversity offers us the opportunity to tailor our fundraising initiatives to match the preferences and capabilities of our diverse donor base.
The report sheds light on the generational shifts in giving patterns:
- Millennials have emerged as the fastest-growing generation for giving. Their average total giving increased by an impressive 40% from 2016 to 2022, reaching an average of $1,323. This growth underscores their enthusiasm and commitment to philanthropy.
- Gen X and Boomers, however, experienced declines in giving during this period.
- Notably, Gen Z, a young cohort, displayed significant engagement with an average giving of $747 in 2021, showcasing their potential as future philanthropists.
As we navigate the ever-changing world of philanthropy and technology, we hope these insights can be as beneficial to you as they are to us. Please reach out with any questions or ideas on how you could leverage your fundraising program with this new and exciting info!