Good news! High-net-worth households and donors are giving above pre-pandemic levels, according to the latest Bank of America Study of Philanthropy.
The study also highlighted the strong influence of women and Next Gen philanthropists who are using their wealth to promote positive change in the world.
Our newest fundraising consultant Evan Northup dissected the study to better understand what motivates these high-net-worth donors to give.
In a video discussion with Gail Perry, Evan shares insights from the study on women as high-net-worth donors.
These are Evan’s additional key takeaways from the study that can help you to better understand your high-net-worth donors’ motivations.
Remember this is all about what current major gift donors and prospects are thinking and feeling:
Do your donors understand the need and impact? 94% gave when they believed their gift could make a difference.
Do your donors volunteer? Volunteers gave 3X more ($18K) than nonvolunteers ($5K).
Are you nourishing their appetite to learn? 63% indicated that they would like to be more knowledgeable about charitable giving.
Are you asking…and asking at the right time? 26% simply did not give because of bad timing or no ask. These are completely surmountable problems.
Are you communicating in a way that works for your donor?
- 64% preferred email, only 10% wanted a phone call or voicemail, 30% wanted physical mail
- 67% said a website was very/somewhat important in shaping charitable giving and 55% made gifts through a nonprofit’s website
- 55% said social media and 49% said text to give are important digital tools
To see the full study, click here. Do you feel these findings will help shape your approach with high-net-worth donors?