Maximizing impact is top-of-mind for donors and nonprofits, and one way to propel a philanthropic mission forward is by taking advantage of today’s tech. As we continuously pursue new avenues to help givers power up their philanthropy with innovative applications and the latest features, we had to ask ourselves…what are the transformations taking place and how can we all benefit from them? Our analysis revealed six tech trends that promise to shape the future of giving.
#1: Using Automation to Simplify Operations and Limit Costs
If there’s one thing the for-profit world can teach us, it’s that tech and artificial intelligence (AI) can automate the most complicated processes and workflows. In fact, cloud-based digital processes foster seamless giving, reduce overhead, and save valuable time. That’s a lesson many nonprofits learned since 2020. Nearly 70% of charities had to invest in systems and tools to continue operations during the COVID-19 pandemic, according to NTEN.
#2: Providing Transparency Through Public Platforms and Technology
Did you know that charities with greater transparency garner 53% more contributions? When people can see the tangible impact of their money, they’re inclined to donate more. Many of the largest donors, such as Jack Dorsey, have embraced this transparency by publicly sharing their charitable contributions, including information about where each grant goes, how much it’s worth, and why they’re making the donation. One promising technology in this area is blockchain, the distributed ledger built to facilitate cryptocurrency transactions. However, blockchain has many other applications beyond crypto, such as empowering people to publicly track and share foundation contributions.
#3: Tapping Social Networks to Accelerate Momentum and Visibility
Crowdfunding platforms have made it easier for smaller donors to pool their resources to make a larger impact much like HNW families and foundations. Now individuals and organizations can use these platforms to tell their stories and create a direct communication channel between donors and recipients. The average individual donor for nonprofit crowdfunding campaigns gives $66, and the average campaign raises $9,237. And with the recent expansion and consolidation in the industry, these figures are poised for growth.
Want to See the Rest of the List and the Tech to Watch?
Checkout our entire white paper to take a deeper dive into our analysis of the transformations taking place.
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A host of new applications can help maximize impact for donors and nonprofits.