Nationally, economic conditions factor strongly in giving trends. Over the last 40 years, only four years saw declines in giving – 1987, 2008, 2009, and 2022. These years all experienced significant economic challenges.
While overall giving was down in 2022, there is reason to be optimistic with bright spots including mega donations, increased engagement in younger generations, and more opportunities with online giving. Overall giving is down, yet the share of sources of giving is becoming more diverse.
After a significant increase in giving to $516.65B in 2021, giving then declined 10.5% to $499.33B in 2022, trending up again 1.9% in 2023 to $557.16B, reaching a high in dollars but not outpacing inflation at 2.1%. Total giving did not surpass the all-time inflation-adjusted high that was set in 2021. Inflation reached 9.1% in 2022, causing all four sources of funds – corporations, bequests, foundations, and individuals – to decline. In 2023, total giving reached pre-pandemic levels, even when adjusted for inflation, indicating positive signs for nonprofits!
Why does this matter to you and your organization? National giving trends tend to reflect in local giving as well! It's important to know your audience and the trends happening in fundraising before embarking on a capital campaign.
If we can provide more information on giving trends, fundraising, or capital campaigns - please reach out to Ellen Hongerholt at Ellen@CrescendoLLP.com to schedule your free, no committement conultation call!
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