Is it just us or is the year flying by? It seems unbelievable but we’re coming up to our mid-year state of the sector report. If you can’t wait, we’ve got a little taster here. So, how has the charity sector faired in quarter one of this calendar year?
Cozzie livs = Givzy less
Unsurprisingly, the ‘cozzie livs’ (cost-of living-crisis for people who aren’t down with British slang) is having an impact. Our data – taken from our InsightHub platform, which combines the data of more than 9m UK based supporters – shows despite the fact that charities are continuing to raise more money overall, people are actually giving less.
You might be wondering how that adds up; overall income takes into account things like legacy giving, which is doing pretty well. Average gift value, however, is not doing so well. This fell last year and has fallen again during Q1 this year, albeit not so steeply, so perhaps we could see this even out in the not-so-distant future…
Total income -going up
Average gift value – going down
Giving it your best
We can see people are still giving regularly, but they’re starting to give less. It doesn’t sound positive, but we don’t think it’s necessarily negative. It suggests that, although times are hard, many haven’t cancelled their regular donations, they’ve just reduced them. Of course, it’s too early to tell what overall retention rates are for 2024, a dip this year wouldn’t be a huge surprise. That means they still feel close to their chosen charities, they still care and want to help as much as they can – they’re trying their best.
And it probably means most charities are doing a really good job at keeping their donors engaged. If your charity is in this position, give yourself a pat on the back! But also consider – what else can you do? Your donors can’t give as much, but they’re still interested in supporting your charity. Perhaps you could give your supporters the option to downgrade their regular donations. Or maybe now is the time to ask for non-financial donations (food, clothing, toiletries etc.), volunteers or help spreading your message.
Average regular gift value – taken a dip
Join us for more
We’ve only covered off three cost-of-living stats here, so if you’re hungry for more, why not join our Consultant Analyst, Jessie Parker, on 27th June at 12 noon? She’ll be talking through these stats and more on the Chartered Institute of Fundraising’s 20:20 Insight webinar.
Jessie will be joined by Symon Russell, from Air Ambulance Charity Kent Surrey Sussex, who will be talking about their performance so far this year, compared to our state of the sector stats. It’s a great opportunity to ask questions and join in the discussion, so register now for your place.