Growing Trends in Philanthropy

Of all the work in life, Philanthropy is considered one of the most rewarding. It allows the giver and receiver to see the abundance of their joint efforts to improve the plight of others and the world.

Making a Difference

While some believe that small philanthropic projects make little difference globally, nothing could be farther from the truth. Philanthropic work on both small and large scales significantly impacts people’s hope, purpose, and focus in communities of all sizes.

Current Trends in Philanthropic Endeavors

Because of the pandemic and the ongoing rise in global instability from conflicts, wars, inclement weather, and financial woes, there is no shortage of need for philanthropic endeavors to aid those who are suffering.

In addition to the traditional projects that help lower-income people in need, there has been a rise in specific types of philanthropic projects. This is especially true for projects that address:

  • The Adverse Effects of the Pandemic
  • The Plight of Educational and Racial Inequality
  • Relocating People From War-Torn Regions of the World (Including Religious Persecution)
  • Projects To Address Climate and Weather Catastrophes
  • Regional, National, and Global Projects to Enhance Opportunities for Marginalized People

It should be noted that there is an increasing rise in outreach and humanitarian efforts from religious groups across the country and the globe. These often make an impact and fill in the gaps that governments fail to address.

Current Fundraising Trends and Resources

Today, because of the increasing changes from technology and Covid, non-profits and people working on philanthropic endeavors that raise funds for projects are discovering they have to be more creative. With so many crisis situations occurring globally, smaller projects or those that lack monumental purposes can seem trivial and lose their appeal to donors. Additionally, because Covid has caused thousands of businesses across the country to close their doors, it has taken away a significant potential pool of donors.

Crowdfunding has been a lifeline for many projects, which is often boosted on social media platforms. Other primary sources for funding philanthropic work are obtained through a renewed focus on grants from private and governmental sectors and fundraisers. However, due to the ongoing pandemic, many fundraising platforms have switched to virtual fundraisers and social media platforms for all their fundraising efforts to avoid the spread of Covid.

When it comes to funding resources, corporate donations are expected to rise in 2021 and 2022 by 4.3 percent in 2021 and 6.4 percent in 2022, where grants are expected to take the lead. However, a decline is expected for more traditional fundraising appeals. A recent survey from the consultancy CCS Fundraising showed that most charities expect fundraising revenue to be negatively impacted in 2021 and 2022 due to the effects of the pandemic.

Originally published at https://chartwestcott.net.

Chart Westcott is Co-Founder and COO at Ikarian Capital, LLC a long/short equity biotech focused investment adviser. Read more at http://chartwestcott.net.