The events of the last year and a half have been traumatic – on a global scale. The pandemic left a mark on every industry, including nonprofit sectors. It’s tempting to wonder how that will affect philanthropy going forward.
Already there are apparent philanthropic trends for 2021, proving that philanthropists are quick to adapt to continue their efforts. Here are some of the most popular trends at the moment.
Trust-Based Philanthropy
Due to the pandemic, trust-based philanthropy became the standard. As the name implies, trust-based philanthropy has a certain level of trust in it. It removes restrictions and speeds up the donation process – meaning that the money can go where it is needed.
Organizations such as GlobalGiving’s Coronavirus Relief Fund would not have been able to support nonprofits without this method of philanthropy. It is entirely likely that trust-based philanthropy will be sticking around for the near future.
Social Justice Funding
The demand for social justice has never been so loud. Given the current global climate, as well as certain events that have fueled the fire, the growth of social justice funding has been unprecedented.
There is a strong demand for change. Given that philanthropy has always been about creating change from the ground up, it was only natural that they would begin to take up this fight in numbers.
Virtual Programming and Fundraising
Nonprofit organizations had to learn how to adapt and fast. They began collecting donations through virtual means, as well as providing programming and virtual volunteer options.
This trend has already resulted in more outreach and connections than ever before, proving that people are willing to put in the effort.
Watching the Money
There has been a rising concern revolving around the effectiveness of nonprofits and the money they handle. Thus, it has become more common to monitor and analyze these funds – to ensure that the money is going where it is needed the most.
This movement has taken the process a step further, watching the global economy and where money tends to stagnate. That is to say, the wealthiest population is in the limelight, and the wealth, which isn’t used to help the economy or the community, is being scrutinized.
A Transferring of Wealth
A new generation of philanthropists is in the process of being born. Baby Boomers are beginning to leave their money to their children – around $68 billion in total. This new generation is more inclined towards fundraising, volunteering, and giving back.
In turn, this will help to drive philanthropic endeavors and nonprofit organizations. They will begin to use their money to enact the changes they have been demanding.