A Jan. 14 article in Business Week discussed the decline in corporate philanthropy during the economic downturn. It also pointed out that companies are giving more strategically, often contributing to causes that will raise their visibility.
This is another good reason to diversify your funding sources. As Keith noted in our last blog post, corporate philanthropy accounts for less than 5 percent of all charitable giving, even when the economy is strong. Yet many nonprofit boards insist on putting too much focus on corporate giving and too little on cultivating major gifts from individuals.
About 88 percent of all giving comes—not from corporations or even foundations—but from individual donors. No matter what the economic climate, a major-gifts program can make a major difference in your fundraising.
Does your board depend too heavily on corporate or foundation giving? We encourage you to share your thoughts below.