In September 2023, PNC Institutional Asset Management® (PNC IAM) hosted our annual State of Nonprofits webinar: The Next Generation of Governance. During this event, we received many questions from leaders across the nonprofit sector. The questions received focused on three key topics, learn more below.
1. How can impact data inform philanthropy?
Philanthropists can use data to gain a deeper understanding of the need related to the issues on which they focus. There are a few ways to do this. Quantitative data, such as the number of people served, or meals delivered in a community can be measured as a direct impact of donations. A community needs assessment— where randomized control trials test the market’s needs and compare your program’s impact—can also help ensure efforts are going to the right place.
Qualitative data is also an essential part of informing your actions. Understanding the community you serve, through stories and field visits, is important to donors. It is crucial for donors to recognize the true impact of their gift and they can realize this via community engagement, donor collaboratives, conferences, online platforms, and more.
2. How can we identify donors looking to give non-cash gifts?
Non-cash gifts, such as securities, provide a tax-efficient way for donors to support your organization. To identify who in your donor base may be inclined to give non-monetary assets, your organization can use wealth screening tools, or build inferences based on publicly available information found on county auditor websites, and websites that share information related to political donations. Beyond gifts of securities, it is worth having conversations with your donors about other philanthropic vehicles such as Donor Advised Fund (DAF) grants and Qualified Charitable Distributions (QCD) from retirement accounts.
3. As we experience a generational shift, how do you see that impacting philanthropy?
Baby Boomers are still giving the largest amounts, but Millennials are increasing their giving. As the wealth shifts to younger generations, it is important to understand the influence of grandparents and parents on future generations. Encouraging and instilling a responsibility in the next generation of givers —from volunteering to sitting on boards—will help them understand the importance of your mission, recognize the impactful work that your organization does, and build strong relationships. As the next generations increase their giving, it is important to meet them where they are at—pay attention to what they value, how they communicate and the best ways to get them involved.
To view the entire webinar, find the replay here.
Visit pnc.com/nonprofits for more insights and to stay connected with PNC IAM.
