Post-election fundraising: What to do after the dust settles

What a year! Naturally, it will take time to determine how the aftermath of the 2024 elections will impact charitable giving. But as the philanthropic sector waits patiently for clarity, here are a few points to keep in mind:

Don't get discouraged about year-end fundraising. Keep moving full steam ahead, because the 2024 U.S. presidential election is not expected to significantly affect charitable giving for the year. Many donors are likely to continue their support. Indeed, looking back, charitable donations have increased in nine of the last 10 election years. And 2008 was the only exception, but that is understandable due to the financial crisis. 

Remember that in general, confidence overall tends to increase after an election, which means that your donors may be more likely–or at least probably won't be less likely–to consider supporting your organization. If you continue to confidently share information with donors about the impact of your programs, you'll inspire donors to give with confidence, too.

Tax laws will be up in the air for months after the elections as the budget reconciliation process moves forward. This means you ought to keep talking about the potential sunset of the estate tax exemption and encourage donors to consider charitable giving as a solid planning technique in their estate plans. Remember that your donors care about your mission, and saving taxes is not the only reason they give. That said, potential tax law changes can be an effective catalyst to start a conversation because it's on your donors' minds.

Please reach out to the team at the community foundation. We're happy to serve as a sounding board for strategies to build your endowment and maximize year-end giving, whether it's an election year or not.

This newsletter is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice.