Each summer, fundraisers across the nation anxiously await the Giving USA report, a report on the state of fundraising and philanthropy across the United States.
This annual report, compiled by the Giving USA Foundation at the Lilly School of Philanthropy, provides a glimpse into fundraising statistics and trends nationwide. But what are the important takeaways for donors and nonprofit supporters? Well, GiveMN is here to provide our take on the most critical things for donors to know.
Top Three Takeaways from the 2024 GivingUSA Report for Donors
- Individuals (like you!) continue to be the largest driving force in philanthropy. This year, individuals (including bequests) were responsible for 75% of all philanthropic giving to nonprofits across the country.
- Funding from foundations continues to decrease for nonprofits. Grant funding can help provide transformative investment for nonprofits, but with changing funder priorities and economic turbulence, nonprofits are seeing decreases in support from institutions.
- However you choose to give, your financial support for the causes you care about continues to be critically needed. Nonprofits and schools are what help our society weather economic and social turbulence. The needs of community continue to outpace what nonprofits are able to provide, and your support is one of the best solutions.
Your Giving Matters
In 2023, 75% of all donations to nonprofits were made by individuals like you. Whether that’s $5 or $5 million, individuals are what power nonprofits’ ability to provide basic needs, offer opportunities and hope, foster arts and culture, and so much more.
Here are a few ways you can be part of this individual movement for collective good:
- Make a donation to a cause that’s near and dear to your heart!
- If you’re able, talk to your financial planner about including a nonprofit in your estate plans
- Volunteer with an organization or serve on a board of directors – your time and expertise is a gift, too!
- Give the gift of generosity with a GiveMN Giving Card! You can pay it forward and be a great gift giver with our giving cards.
Foundations Decline While Individuals Step Up
Giving by foundations has declined by 2.4% when adjusted for inflation over the last year. There are many organizations that rely on grant funding to provide programs and keep their doors open. When funders change priorities and decrease their funding (or halt their funding altogether), this can harm nonprofits.
That’s where individual donors like you come in. Organizations that have the support of individuals are much more resilient and can be more creative, nimble, and innovative. By offering your support to nonprofits and schools, you’re giving the gift of financial flexibility and sustainability to people that make Minnesota a better place to work, live, and play.
One of the most important things you can do is continue to support the nonprofits that mean the most to you. Your ongoing support helps organizations better plan their programs and activities, continue to offer important services, and know that our community has their back.
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Looking for organizations that meet your values? Check out GiveMN’s search page to filter organizations by location, cause area, and other demographic identifiers to find nonprofits and schools that are aligned with the things you care about.