Charitable Giving in Crisis? What Non-Profits Can Learn From COVID-19 (Part 2)
01 Jul 2020 4:09 pm
In our last post, we uncovered ways nonprofit organizations might take advantage of the COVID-19 crisis to rethink their fundraising strategies. But drawing inspiration from others and thinking like a philanthropist isn’t enough to turn lemons into lemonade. In this second part of our two-part series, we will take a look at how data and other valuable resources can connect the dots.
Data and Due Diligence
You likely already know which individuals and corporations have been your organization’s most ardent believers and staunch supporters. But before approaching them to increase their donations, remember that a little research can go a long way.
Take a look at the last five to ten years’ worth of donor data. Have your most reliable funding sources consistently increased or decreased their giving levels? Have they placed new restrictions on their giving? What impact have their gifts had historically, and what is the anticipated impact of a new gift? Answer these questions before beginning your outreach.
Consider, too, how your supporters have been impacted by the COVID-19 crisis. The energy sector, restaurants, and travel and tourism industries, in particular, have been gutted by the pandemic. Turn to research databases like Nexis® to search for news, death notices, legal filings and industry market conditions that may shed light on an individual or company’s current economic status. Just because they have the propensity to give doesn’t mean they have the ability to give under current conditions.
Take Advantage of Free Resources
The internet presents a treasure trove of easily accessed information. For its part, the National Council of Nonprofits offers an extensive toolkit to help non-profits navigate everything from remote work to resources for funding. For more on what nonprofits need to know about the ever-changing legal landscape, our Nexis Solutions team has compiled a database to connect you with vital legislative information and research materials. Nexis subscribers can also access COVID-19 quick searches designed by our customer success managers. These pre-populated search strings can help you narrow your research by topic area, such as R&D and innovation, cyber security, immigration, job losses and more.
If there’s a light at the end of the COVID-19 tunnel, it’s that we are all in this unprecedented situation together. On the whole, we’re seeing the better nature of humankind shining through: kindness, empathy, generosity and gratitude. Brighter days are on the horizon.