Will the end of the year keep pace with the beginning half of the year?
The Chronicle of Philanthropy released an article reporting on fundraising in the first half of 2020. The 107 groups providing complete data stated that they had raised 21% more from foundations, corporations, and individuals in the first half of 2020 than in the first six months of the previous year. The second quarter (April, May, and June) giving was exceptionally high, surging to nearly 41% over the same time last year.
Organizations providing services to people directly affected by the COVID-19 virus, such as food banks, had more positive results. Some reported gifts and grants rising as much as 116% percent during the first six months. Giving at community foundations is up too, mainly because many have raised money for COVID-19 relief. Nearly $1 Billion has been granted back into the community by community foundations across the nation to help those most impacted by the coronavirus.
Locally, the Community Foundation for Palm Beach and Martin Counties has seen grantmaking by its fundholders increase by 22% in the first half of the year and has raised $3.6 million for COVID-19 response. Approximately 26% of the nonprofits surveyed reported a decline in giving year over year. For the first half of the year, organizations reporting contribution losses were mainly charities relying on in-person events like galas, golf tournaments, and walkathons.
Will the end of the year keep pace with the beginning half of the year? Some fundraising professionals worry whether donors responding to the COVID-19 crisis have expended all of their charitable dollars for the year. Others are speculating on how the outcomes of the upcoming election will affect philanthropy.
Regardless of the speculation that looms around the philanthropic sector, the Community Foundation for Palm Beach and Martin Counties continues to adjust and tackle this unprecedented year for philanthropy. Not sure where to give? Consider giving to our Annual Support fund to aid the Foundation’s ongoing operations.