Has individual giving halved this year?
GOOD’s Head of Planning Pete Esuola-Grant responds to a research report released by the Benefact Group earlier this week.
This week the Benefact Group published an estimate that the fundraising market halved in one year by 54%, based on a bespoke survey of 2,000 adults.
As the saying goes “One swallow does not make a summer” and this was a good reminder not to consider the results of a single survey as gospel, but instead to take a holistic view to research supported by insight from a variety of sources.
Whist there’s no doubt the cost of living crisis has made fundraising more difficult and that the giving market is in decline – we challenge the finding that the market has halved in 2022.
In fact, it seems the market has been a lot more resilient this year than most fundraisers anticipated.
Our own “Cost of Giving” monitor research with YouGov found that the market has remained relatively stable for the past 9 months with 58% of donors saying they would keep giving the same in July 22 and 61% in Feb 23. Over half of donors said they remain loyal and keep giving to their favourite few charities whatever the circumstances, rising to 71% for donors 60 years old and over.
These results have been played out in our own client base, with the vast majority of fundraising campaigns have met or exceeded their targets this year.
Benefact’s estimates were based on a finding that more people were giving to charity, but each giving significantly less on average – presumably because of cost of living pressures.
In fact, we believe the opposite to be true as the vast majority of charities we speak to see a shrinking donor base keeping the market alive by giving increasingly generous gifts.
This trend of a shrinking but more generous market is a long term, ongoing trend mapped by CAF’s annual reports that long predates both COVID and the cost of living crisis. (SOURCE)
It is a trend we are monitoring closely and speaks to an even greater existential challenge charities that face – to identify and inspire new audiences to give and maintain our donation pipeline for the future.
If you’d like a copy of our latest cost of giving monitor findings get in touch at hello@goodagency.co.uk
Posted by Lucy Martin
