Every year there is so much to look forward to for the future of philanthropy. It’s hard to predict everything that can happen as many events occur in the blink of an eye and turn out to be significant moments in history. The past year has been very challenging for the philanthropy sector, but it might have been one of the most significant years yet. Charities and organizations received more donations than ever from old and new donors. This has given philanthropists more momentum and confidence in the work they do. Let’s take a look at what trends to look our for in philanthropy this year.
Diversity in Decision Making
Expect for board leaders and individuals in elevated positions to look for the opinions and perspectives of others. This will be the greatest way to innovate. Innovation comes from all different directions, so in order for organizations to be successful in this process, they must let everyone’s voice be heard. This doesn’t mean that all ideas will be taken into action, but this is a great time to bring people together who come from different experiences and backgrounds. As thoughts begin to bounce off once another, charities and organizations will be able to live up to their mission and beyond.
Crisis Grantmaking
If there’s one thing that 2020 taught us is that during hard times call for more aid. Not only were donors lending a hand, but grantmaking was done at a fast rate. This has made it easier for charities and organizations to act on their mission and provide relief to those who need it. This year we can expect the grantmaking process to be fastened and no longer be reactive. Crisis grantmaking can help philanthropists meet long-term challenges more than ever.
Technology
The pandemic has significantly impacted mobile philanthropy during the past year. Although technology can be expensive donors, have even given money to help equip charities and organizations with technology. Digital landscapes have changed social and personal lives which have also made an impact on philanthropy. More recently people have been meeting on Zoom for virtual donations and fundraising run campaigns through social media. For now social distancing will remain as part of our reality which means technology will the best way to keep everyone connected in this fast-paced world.