Charity leaders predict significant fundraising challenge due to cash-strapped supporters

05 Feb 2024 News

White piggy bank

Adobe Stock / Dilok

Charity leaders have predicted they will face a “significant challenge” fundraising this year due to supporters having less money to donate.

Most respondents (52%) to a survey of 202 decision makers at charities named the cost-of-living crisis as a significant challenge for fundraising in 2024, with 37% describing it as a “slight” challenge.

Some 36%, meanwhile, said they feared public fundraisers were reluctant to ask for donations from their cash-strapped friends and family.

However, 53% of charity leaders expected to see growth in fundraising events and activities in 2024, while 39% forecast a boost in corporate fundraising.

Some 78% said they planned to run smaller fundraising activities in 2024, while 52% expected to organise their own mass participation events and 48% said they would take part in those run by third parties.

The survey also found 45% expected to take part in virtual physical events while 40% planned to run online activities such as quizzes.

Income boost in 2023

Most (55%) charity leaders said they maintained or increased their fundraising income in 2023, according to the latest Charity Pulse report, despite the challenging economic backdrop.

Charity leaders were surveyed in November and December 2023 by RedFox Research for the report, commissioned by fundraising platform Enthuse.

Enthuse chief executive Chester Mojay-Sinclare said: “It’s encouraging to see that more than half of charities saw their income stay the same or increase.

“It’s testament to the resourceful nature of the sector that charities find a way to continue to deliver results, even against a difficult financial backdrop.

“But what really stands out to me is a great opportunity to drive income. Fundraising events and activities are seen as the highest growth opportunity in 2024.

“At a time when many have less disposable income, providing a memorable experience is increasingly important, and taking on a big physical challenge can inspire people to give.”

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