The calendar has turned over another year, and that means new opportunities for giving and building relationships with your donors.
To better understand what might be ahead for 2022, let’s look at some past data to figure out trends that might develop in the new year. One such event we can use is Giving Tuesday 2021. It was a day that not only produced the highest donation total in the movement’s history, but also matched the direction of giving throughout the year. Combining that day with some additional data, we can use Giving Tuesday as an indicator of how giving in 2022 might perform.
The Success of Giving Tuesday
The yearly global generosity movement once again saw record-breaking numbers worldwide. In the U.S., it’s estimated that 35 million people participated in Giving Tuesday, 6% more than 2020. Of all who participated in the U.S., $2.7 billion dollars was raised, marking a 9% increase from last year and 37% more than 2019 numbers.1
As well, the movement also continues to see large growth in other forms such as cryptocurrency. In 2020, there were only 120 nonprofits that participated in cryptocurrency donations on Giving Tuesday. A year later, that number skyrocketed to 1,007 nonprofits, nearly 10x more. The total amount of cryptocurrency given followed the same pattern where over $2.4 million was raised, almost 6x more than 2020.2
Here at iDonate, our clients put together their own success stories for Giving Tuesday. Over $3.3 million was raised on the iDonate platform in 2021, a 10.3% increase from 2020.
What Does It Mean for 2022?
As we continued to recover from the effects of the pandemic in 2021, what we did see was people coming together for giving. That theme will assuredly remain in 2022, but there are other trends that might emerge throughout the year.
Volunteering: In-person and Virtual
Worldwide on Giving Tuesday, there were many events held in-person. It’s reported that volunteering on Giving Tuesday increased 11% over 2020 totals.1 Donors still want to volunteer, so nonprofits should look to keep bringing back in-person events as best they can.
Even so, virtual events and campaigns should still be an option for donors and nonprofits. For donors who still want to participate but may not feel comfortable attending in-person, virtual and hybrid events are a flexible and affordable way to reach your audience. Think about your next peer-to-peer fundraising campaign and how it can reach the widest audience possible.
Stock Market Increase = More Funding?
In December 2021, many Wall Street firms predicted stock market gains for 2022. Some were more bullish than others, but many believe that the stock market will turn positive by year’s end. There is a strong correlation between giving and how the stock market performs.3 Because of this, we could see many donors continue to give more throughout the year as we saw on Giving Tuesday.
On your end, be sure to have your giving form set up in order to accept stock donations (it's really easy). As well, remind your donors of the tax benefits they receive when they donate stock to any qualified nonprofit.
Digital Giving Will Continue To Be a Factor
As we await further data on the 2021 numbers, we can look back at Giving Tuesday 2020 to see why digital giving was so important then as much as it is today. Of the then-record $2.47 million that was raised, $750 million was given online, 25% more than 2019. For 2020 as a whole, Giving USA reported that online giving increased by 20.7% over 2019.4
Knowing this, digital giving will and should remain a top priority for nonprofits. As more donors look to give in the new year, especially through online formats, it is important to make sure your online platform is set and ready. As we saw on Giving Tuesday, donors gave more than ever, and it is a trend to keep an eye on in the months ahead.