We expect to see a wide variety of donations in 2022. While most giving continues to come from individuals this year, organizations and businesses continue to play a crucial role. Below are some philanthropy trends for 2022 that define the giving space.
Philanthropy as Civic Engagement
In an increasingly polarizing period of history, philanthropists are more often associating their giving with civic engagement. Heavily debated causes centered around issues such as climate change, abortion rights, and racial justice are seeing increased giving. People continue to give to causes that they see as the common good in an attempt to ensure that their cultural viewpoint gains the most traction at the individual and government levels.
Increased Giving from Millennials and Zoomers
Younger generations are increasingly empowered to support causes for which they are passionate. Additionally, younger generations are more tax-savvy and are willing to work closely with financial advisors. Growing trends in consumer spending indicate that Millennials and Zoomers are more likely to buy from brands with social causes attached, so it’s no surprise that younger generations are paying attention to social and ethical conversations in their in-person and digital communities.
Hybrid Campaigns
Nonprofits are looking to get the best of both worlds as they try to capitalize on the benefits of virtual events that were brought to the forefront at the height of the pandemic while maintaining the advantages of in-person donations. Digital common spaces are predicted to have a crucial role in the future of philanthropy and fundraising.
Asset Types: Investments, Income, and Cryptocurrency
Nonprofits are looking to educate their staff and donors about donation types. For tax benefits, nonprofits are encouraging people to give assets rather than income — assets like stocks and bonds or the ownership of a business. However, these assets sometimes go untapped because teams do not understand them.
In the same vein, some nonprofits are looking to stay ahead of the game by investigating cryptocurrency donations. The concept of cryptocurrency is still foreign to many organizations, and nonprofits seek to do their due diligence to assess the possible benefits and risks.
Those that wish to donate non-income assets can rely on their estate planner to help them make the best choices for their philanthropic goals. If you are in need of an estate litigator, Gaslowitz Frankel LLC is the best choice for the state of Georgia.
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