Keep Moving Forward!
We’ve been getting questions from many of our clients about the likely impact on charitable giving of the trade uncertainty and disruption we’re facing. It’s certainly interesting times for us all, to put it mildly.
As we head into the fall, which is always a busy season for fundraisers and charities, here’s a quick distillation of the advice we’ve been giving in response to those questions.
- Keep calm and carry on. We know from past economic disruptions that total giving may dip, but it doesn’t stop. Canadians continue to support causes they care about as they are able.
- Manage expectations. That said, donors may be cautious with their budgets and likely to be thinking carefully. Businesses in particular are likely to be
cautious and constrained as they navigate uncertainty. Plan accordingly, setting realistic expectations for both the pace and level of giving. - Expect delays. We have seen a trend of many donors who make larger gifts holding off until later in the tax year to make decisions. This is likely to be amplified this year. In particular, mid-term elections in the U.S. will be watched closely, and donors may hold off until year-end to release funds.
- Relationship-building never goes out of style. There has never been a stronger argument than right now for keeping it simple and leaning into building authentic relationships with your core supporters. Donors with assets (in stocks, DAFs, foundations, or other sources) are still there and may in fact be looking to give as part of their own efforts to support Canada; but will want to understand
how they can maximize benefit through their donations. Lean into connecting with your core supporters and continuing to engage stakeholders at all levels. - Meet the moment. Charities are a key part of how we as Canadians live our values, protect our culture and support our communities. Lean into the parts of your mission and case that have the strongest impact on helping Canadians right now. And don’t be afraid to talk about local economic impact. For example, if your campaign is close to reaching a key financial threshold to start a construction project, closing the gap to start work now may be compelling to some potential donors.
We are definitely in for some rough waters in the months ahead, but the charitable sector has weathered past challenges and come out stronger. We can continue to meet the needs of the communities we serve, and build Canada strong, as long as we keep moving forward.
Elbows up!
Celeste Bannon Waterman, Partner