Each year, we look forward to the release of the annual Giving USA report, which looks at national trends in generosity and fundraising from the previous year. The Giving USA report, in partnership with the Indiana University Lilly School of Philanthropy, analyzes a variety of factors ranging from what motivates donors to be generous, how and when donations are made, types of causes supported, and more!
Although this report is most-often studied by fundraisers, we pulled out three important takeaways we think may be interesting for donors—a snapshot of generosity trends from the past year
1) Individual giving is the #1 source of revenue for nonprofits.
Oftentimes, we hear stories about incredibly large gifts made by corporations and wealthy donors through their foundations. Although those are incredibly generous and appreciated, the #1 source of revenue for nonprofits of all sizes is gifts from individual donors! Each year, Give to the Max is a perfect representation of what we’re able to accomplish with a collective focus on generosity—tens of millions of dollars generously given $10, $25, and $100 at a time.
Your takeaway: Your generosity matters, no matter the size of the gift! Continue to support your favorite causes this year on GiveMN.org. We encourage you to support nonprofits that you’re familiar with as well as discovering new ones to support. Your investment in Minnesota’s nonprofits keeps our communities thriving – thank you!
2) Online giving continues to grow in popularity.
According to the report, online gifts now make up more than 10% of all donations of any type. Donating online continues to grow in popularity and efficiency. GiveMN.org is a great way to track your online giving over time, and can make multiple donations to multiple causes with one simple click. To read more about how your free GiveMN.org profile can help make the most of your giving, re-visit our helpful guide from last month’s newsletter.
Your takeaway: Giving online is an easy and efficient way to support the causes that mean the most to you. By using a free GiveMN.org account, you may easily track your donations throughout the year, discover new causes, and access records of your giving which may help make tax season easier.
3) Economic conditions impacted giving in 2022.
There’s no question: fundraising and generosity was impacted in 2022 due to economic instability, inflation, and people navigating a post-COVID landscape. According to Giving USA’s report, inflation reached an all-time high while disposable personal income declined somewhat—a recipe for decreased giving.
However, donors like you continued to step up for nonprofits and schools in Minnesota in 2022. During GTMD22, donors like you gave more than $34 million for thousands of nonprofits across the state – a statistic that bucked national trends! Thank you for your generosity and making Minnesota one of the most generous states in the country!
Your takeaway: No matter the economic landscape, Minnesota donors continue to rise to the occasion and make sure our nonprofits and schools are healthy and thriving. In 2023, we hope you’ll continue supporting your favorite causes to keep our communities resilient!