In this series, we take a look at the current news impacting the nonprofit sector, specifically fundraising. Our intention is not to be reactive, but to be proactive in our analysis of the news and consider how fundraising and philanthropic efforts can improve outcomes and adapt to meet the times.
This week: Advancement Moving Forward: Perspectives On The Challenges To Philanthropy Due To The COVID-19 Pandemic, Giving Was Up 7.5% in the First Half of 2020 New Report Says, and Can Businesses Keep Up With New Cyber Threats?
Advancement Moving Forward: Perspectives On The Challenges To Philanthropy Due To The COVID-19 Pandemic (Via Washburn & McGoldrick)
A new study from our great friends and partners at Washburn & McGoldrick finds that 40 percent of advancement professionals are currently confident about reaching FY21 fundraising goals. In June 2020, only 22 percent of the respondents were confident about making their fundraising goals. Currently, only 14 percent are without confidence about making annual goals – a drop since June’s reported 28 percent. The most common response continues to be uncertainty, as 46 percent of respondents to the current September 2020 survey report they are uncertain about making their FY21 goals.
Analysis: While confidence is on the rise, uncertainty in reaching fundraising goals still reigns. Achieving goals will come down to adapting to the current environment and developing personal relationships with donors who are inspired to give at a time that's critically important for the financial well-being of the causes they support.
Giving Was Up 7.5% in the First Half of 2020, New Report Says (Via Chronicle of Philanthropy)
Charitable giving in the first half of 2020 increased by almost 7.5 percent over the first half of 2019. That marks a big shift from the first quarter of this year, when giving was 6 percent behind the same period in 2019. The second quarter also marked a five-year high in the number of donors and contributions. While donors at all levels have stepped up in a big way during the pandemic, those who gave less than $250 were a major driver of growth. The number of small donations increased 19.2 percent over the first six months of last year. That may be due in part to the $300 universal charitable deduction that was enacted as part of the Cares Act.
Analysis: Historically, philanthropic giving has risen during times of crisis. The COVID-19 pandemic proved no different, with support coming from donors of all types. While it was originally speculated that the ultra-wealthy would drive giving amid the crisis, new donors are also emerging to contribute to causes that they have an affinity for but were not previously inspired to support. Can you claim similar successes with inspiring new donors?
Want to learn more about data security for nonprofit? Join us October 20 at 2:30 pm ET // 11:30 am PT for a FREE webinar about new risks nonprofits face and how human layer security sures up vulnerabilities that haven't been considered before.
Can Businesses Keep Up With New Cyber Threats? (Via Wall Street Journal)
Companies face an uncertain future in fighting cyber threats to their systems, and it’s going to cost them. Cybersecurity spending is forecast to grow 9 percent per year from 2021 to 2024, when it is projected to his $207 billion. Though growth is only projected at 5 percent in 2020, reflecting disruption from the pandemic, the longer-term rate is high, considering that many companies have already invested.
Analysis: Investing in data security for your organization is not something that can be done after a cyberattack. The potential damage caused would be far greater than the cost of protecting donor data before there is a breach, both financially and your donor's trust. Nonprofits need to invest in securing their data now before it is too late. You can't buy hurricane insurance after the storm hits.
Is your donor data protected? Take our FREE 15-minute data security health check and find out if your organization is secure.