We spend a lot of time in the office talking about where philanthropy is headed. Changing donor demographics and new technology are turning the current fundraising model upside down, and there are significant changes on the horizon. It’s a fascinating topic that impacts the nonprofit community in real, tangible ways.
Are you staying informed on trends in giving? Are you using this information to evaluate your current processes and make adjustments? Are you seizing opportunities to use technology and create new partnerships?
If not, what’s stopping you?
If you need inspiration, consider James Rosebush’s observations about the future of philanthropy and social impact investment. Mr. Rosebush has spent years advising wealthy families about giving and building philanthropic organizations. So he knows his stuff.
We were thrilled to hear him speak at a recent United Way event and are happy to share his insights with our added commentary below.
1. “Crowd philanthropy” is how most fundraising will happen in the future.
ASP: Are you comfortable with crowdfunding? Are your projects “bite-size” enough to be attractive within this platform?
2. Philanthropy is becoming even more democratized.
ASP: Thanks to technology, everyone can raise money. Large and/or successful efforts are longer the domain of organizations with big budgets or big staff.
3. Philanthropy will take on investment characteristics.
ASP: Meaning it will be more important than ever to measure and communicate returns.
4. Nonprofits using traditional development strategies are going to feel a pinch.
ASP: The less flexible the institution, the harder this is going to hurt
5. Public / private sector barriers are coming down.
ASP: Because partnerships equal money, focus on proving your ability to your partners. (Talk is cheap!)
6. Family investments are becoming more collaborative.
ASP: How many generations of givers do you have in your ranks?
7. Legacy planning will change.
ASP: Planned and deferred gifts will become more and more essential to making big campaigns happen. Organizations that invest in a culture that promotes legacy/planned gifts will start to see the yield, sooner rather than later.
8. Impact philanthropy will move and make markets.
ASP: We’re only beginning to see the tip of the iceberg in regard to the developing power of the nonprofit sector. Today we revel in how many of us make purchases with a charitable intent. We hear about young professionals choosing an employer based on their commitment to giving. Seasoned investors are choosing socially-responsible stocks. What’s next?
Let us know what you think.
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