The Purpose of Giving - Key Insights and Takeaways
On October 29, Purpose Possible and more than 100 mission-driven professionals gathered at The Plaza Theatre for The Purpose of Giving: Insights from Giving USA, a presentation and panel discussion on the latest findings from the 2023 Giving USA Annual Report on Philanthropy. Featuring Dr. Una Osili, Laura MacDonald, and Susannah Darrow, moderated by Jennifer Jiles, the event offered perspectives on trends shaping the philanthropic landscape.
Below, we share highlights and actionable takeaways for organizations, professionals, and community builders looking to harness these insights.
Key Highlights from the Giving USA Report
Giving Growth & Inflation: Charitable giving grew last year but did not keep pace with inflation, impacting the real value of donations.
Individual Giving Dominance: Individuals remain the largest source of philanthropic funds, highlighting the need for nonprofits to prioritize individual donor engagement. (Since the 1950s, individuals have been the largest slice of the philanthropic pie). Interestingly, the data shows that individual donations do not decrease significantly during political campaign cycles.
Foundation & Corporate Giving: Foundation giving continues to grow, while corporate giving remains stagnant despite corporations’ evolving approaches to community involvement.
The Stock Market Effect: The stock market remains a reliable indicator of philanthropic behavior, with trends often mirroring market performance.
Planned Giving Opportunities: As Americans accumulate wealth, many now consider how to distribute it effectively. This generational shift presents a significant opportunity for nonprofits to encourage planned giving.
Resilience in Philanthropy: Generosity remains steadfast, with many funders increasing their giving in challenging times.
Upcoming Challenges: Fundraisers face uncertainties from economic instability, political climate, and shifts in generational wealth. These factors add complexity to philanthropic planning but also underscore the importance of cultivating trust and transparency.
Actionable Tips for Nonprofits
Adapt Gift Requests to Reflect Economic Changes: Regularly evaluate your materials and ask amounts to ensure they align with current economic realities and organizational needs.
Inspire Generous Giving: While economic data is essential, don’t let it limit donor potential. Instead, inspire donors to give their greatest possible gift.
Engage Donor-Advised Funds (DAFs): Building relationships with DAF staff or financial advisors can help demystify this funding source, enhancing donor engagement and support.
Promote a Culture of Abundance: Philanthropy isn’t about scarcity; fostering an abundance mindset encourages giving across communities and individuals.
Empower Your Board: A committed and strategic board can drive transformational change. Engage board members actively to support your goals.
Embrace New Forms of “Giving Capital”: Beyond the 3 Ts (time, talent, and treasure) emphasize “testimony” (advocacy and storytelling) and “ties” (relationship-building) as crucial resources.
Recognize the Relational Nature of Fundraising: Fundraising success is rooted in relationships. Regular, meaningful engagement with donors builds lasting support and trust.
Key Resources for Further Insight
For those seeking to deepen their understanding, these resources were recommended during the event:
The Endowment Handbook: The Complete Guide to Building a Resilient Cause – An essential guide for nonprofit financial sustainability
Donors of Color Network – Philanthropy Insights
Slides shard during Dr. Una Osili’s presentation are available here.
As we look ahead, organizations and philanthropic professionals are encouraged to approach fundraising with renewed purpose and strategic insight. The speakers underscored that while challenges remain, the philanthropic community’s resilience and generosity continue to shine.
Thank you to all who attended and shared questions and experiences. We hope these insights inspire your work and deepen your impact in the communities you serve.
Stay tuned for more events, updates, and resources to support your philanthropic journey.
