Much buzz has been generated this year about the rising trend in corporate giving and business support. Released earlier this summer, the 2013 Giving USA results brought us news that corporate philanthropy is on the uptick, and the more recent AFTA (Americans for the Arts) survey further supplements those results with the report that business giving to the cultural sector has increased by 18 percent over the past four years.
In last month’s August Museum Results newsletter, Sandra Kidd shared some of the AFTA survey’s notable trends in corporate giving to the arts. Keep these thoughts in mind for your fall fundraising strategies:
- Small and mid-sized businesses account for over 80 percent of all contributions.
- 96 percent of the all business giving to the arts is from local companies.
- Among those surveyed, non-cash gifts-in-kind to the arts were reported by almost half of business donors.
- When asked why they did not give to the arts last year, two-thirds of non-donors said it was because they were never asked!
- In large companies (budgets over $50 million), 81 percent of giving decisions are influenced by or made by the CEO. The other top influencers cited were family, friends, and professional colleagues.
- The top reason cited for supporting the arts? “Quality of life in the community,” along with their impact in “stimulating creative thinking and problem-solving skills.”
- About one half of corporate giving dollars come from marketing and advertising budgets, and one-third to one-half maintain separate funds to be used for philanthropic giving.
This increase in corporate philanthropy has coincided with the popularity of new online technology tools, like social media and crowdfunding, which can be used by all nonprofit organizations to boost their visibility in the community – online and off!
Mark Feinberg, the CEO and Co-Founder of Uruut, a community-focused crowdfunding platform recently published this article on the benefits of using online technology to market your organization to businesses that are looking to expand and diversify their giving.
This fall, get creative and use crowdfunding or other online avenues for marketing your organization to potential corporate donors in your community, and let us know your success stories in the comments section below!