As we discussed at the beginning of this newsletter, the landscape of giving is changing as we move to a post-pandemic lifestyle in the United States. The composition of who is donating and how has changed considerably in the past decades and will continue to do so at a faster pace, according to Forbes. As we have heard before, fewer individuals are donating, but the individuals who donate are donating more. With tax codes incentivizing the wealthy to give, Forbes predicts that giving from the wealthy will continue to accelerate. Additionally, a greater share of giving will come from appreciated assets instead of cash and giving will increase from millennials. In order to keep up with these shifts, Forbes encourages nonprofits to:
- Be knowledgeable about common financial issues relevant to the wealthy
- Understand and support your donors that use donor-advised funds.
- Understand and respect the role of financial advisors, wealth managers and philanthropic advisors.
- Create good pathways for asset and bequest giving.
- Prioritize user experience and design.