The role of advisors in keeping our community strong
COVID-19 has significantly impacted nonprofit operations across the country and hampered nonprofits' ability to help their communities during a crisis in which millions of people are in need. The National Council of Nonprofits reports widespread damage to nonprofits' programs, services, supplies, staffs and budgets due to the pandemic and current economic challenges. This means nonprofits need philanthropic support now more than ever.
At the same time, some donor segments have been steadily losing confidence in the nonprofit sector, according to the Give.org Donor Trust Report 2020: Trust and Giving During the COVID-19 Outbreak. For example:
- Although 24.4% of study participants reported in late 2020 that they planned to give more to charities, that figure represents a drop of more than 6% since early 2020.
- Gen Zers are more likely than other generational cohorts to shift from giving money to charities to supporting local businesses instead. Specifically, 28.6% of Gen Zers report this preference, compared to 0% of Matures and just 1.9% of Boomers.
- Related, 26.3% of Gen Zers report that they are not satisfied with traditional charitable donations.
As a trusted advisor to your clients and their families across generations, you have an opportunity to offer information and resources to help your clients become more giving savvy, including measuring the success of their charitable gifts and selecting nonprofit organizations that are delivering the greatest return on investment to the people they serve. Our team at Akron Community Foundation is deeply familiar both with the needs of the community and the nonprofits that are fulfilling them. We hope you won't hesitate to reach out for support as you help your clients navigate ways to address our community's challenges.
To learn more, contact Laura Lederer at 330-436-5611 or email@example.com. We're always available to answer your questions about philanthropy or to schedule a personal consultation with you and your clients – all at no cost.
This content is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice.