MILWAUKEE — According to a recent survey, 80 percent of charities anticipate their 2020 revenue will be lower than expected, and most charities (89.4 percent) are concerned about maintaining a financially stable organization in 2020.
But there is cause for hope, because 30 percent of individuals say they intend to give more in 2020, according to new research from BBB’s Give.org.
The standards-based, charity-evaluation group recently released the Give.org Special Report: COVID-19 and the Charitable Sector.
The report, a survey of 118 BBB Accredited Charities and more than 1,000 adults in the United States, explores what charities and donors currently anticipate will be the consequences of the COVID-19 outbreak on the charitable sector.
“The COVID-19 outbreak and its effects are placing tremendous pressures on charities, all while needs continue to grow,” said H. Art Taylor, president and CEO of BBB’s Give.org, “but the outbreak is also a reminder of our collective interdependence, and we are encouraged to see that as the COVID-19 outbreak gains momentum, almost one-third of donors say they want to give more.
BBB’s Give.org will continue to monitor donor attitudes across time and we encourage donors to find collective strength in supporting charities and their causes during this trying year.”
Report highlights include:
• 80 percent of charities anticipate their 2020 revenue will be lower than expected. Most charities (89.4 percent) are concerned about maintaining a financially stable organization in 2020.
• Charities anticipating decreased revenue believe that: donors will likely be less able to give (93.5 percent), charities will be less able to host fundraising events (69.6 percent); and donors will redirect support to individuals in need (54.4 percent).
• More than half of individuals (52.5 percent) say they expect to give about the same, and another 30.8 percent of individuals say they plan to give more in 2020. Younger generations intend to increase their giving, with 47.7 percent of millennials and 60.8 percent of Gen Z participants saying they plan to give more.
• 23.9 percent of individuals respondents say they plan to give money to small businesses (directly or via crowdfunding), and 24.5 percent say they will look for ways to help unemployed individuals directly.
For a free copy of the report, go to Give.org/DonorTrust.
BBB’s Give.org urges donors to give thoughtfully by taking the time to investigate charities before making a donation and to visit Give.org to verify if a charity meets the 20 BBB Standards for Charity Accountability.
For more information or further inquiries, contact the Wisconsin BBB at www.bbb.org/wisconsin, (414) 847-6000 or 1-800-273-1002.
Consumers also can find more information about how to protect themselves from scams by following the Wisconsin BBB on Facebook, Twitter, Instagram and YouTube.