Fundraising Talks – September 2024

News and updates from the USM Office of Advancement Research

Letter from the Director

Welcome to September’s Fundraising Talks! As we approach year-end and the holiday season, advancement professionals should be preparing strategies for donor engagement and stewardship. This is the perfect time to plan for year-end activities with donors and prospective donors. However, the end of 2024 also brings the Presidential election, which raises questions about how the election might influence philanthropists’ giving decisions, both before and after the race. As higher education professionals, it’s crucial that we continue to foster strong relationships and affinity with our donors. While recent research and data on charitable giving show evidence of a decline in donors, we must emphasize the importance of prioritizing higher education as a key area for giving.

The “2024 Philanthropic Landscape“, the 13th edition produced by CCS Fundraising, analyzed data from Giving USA and other prominent research sources to assess the current state of philanthropy in the U.S. This report offers insights on giving trends by source and recipient, the impact of the election year on giving, and the role of emerging technologies such as Artificial Intelligence. Meaningful communication and engagement with individuals, corporations, and foundations will likely enhance philanthropy and boost revenue for your fundraising campaigns. Key findings from the report include:

1. The top global philanthropic causes in 2023 included disaster relief, health, and human rights.
2. While individual giving made up the largest share of total donations, the overall number of donors declined.
3. Foundation giving reached $103.5 billion in 2023, up 1.7 percent from 2022, driven by a strong stock market. It’s projected to increase by 10.3 percent in 2024 and 5.3 percent in 2025.
4. Corporate giving increased to $36.6 billion, although it remains a smaller portion of total giving compared to individual and foundation donations.
5. Education received $87.7 billion in 2023, with higher education benefiting from historic gifts by megadonors, despite declining contributions from both alumni and non-alumni.
6. Charitable giving increased in 9 of the last 10 U.S. presidential elections, with the only decline occurring during the 2008 global financial crisis. Philanthropy tends to stay resilient regardless of election outcomes.

Institutions should thoroughly research foundations to ensure well-prepared proposals for solicitation. When approaching corporations, it’s important to align your organization’s needs with the corporation’s mission. The CCS report highlights the importance of leveraging technology, data science, and AI predictive analytics to identify likely corporate donors. Hosting alumni events, launching annual giving campaigns, and utilizing targeted digital communications can help higher education institutions tackle their fundraising challenges.This information will be invaluable as we plan our fundraising efforts.

As always, feel free to reach out to us with any questions, comments, or assistance with fundraising research!

Best Regards,
Sapna and USM Advancement Research Team
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