Charity is one of the transformative movements in our society today that helps make a huge impact people who are less advantaged. Philanthropists contribute heavily to facilitating the success of charity organizations and projects in general. Over the years, there has been a significant transformation in the manner in which charity organizations operate. This transformation is highly likely to shape the future of the entire charity industry in various ways henceforth. Here are certain trends that are highly expected to dominate the charity industry this year.
Increased giving
As the number of social causes for charity increase, so are the numbers of people willing to freely give to charity. The increased advocacy and appeal for help to eradicate social-economic challenges in the society are highly likely going to cause a major boost in the flow of funds towards charity. Statistics indicate, for instance, that there has been a 56% increase in charity donations between the year 2014 and 2017. In 2019, the increase is expected to be exponential.
Digitization of charity operations
With the digital age taking over most processes to facilitate efficiency in organizational processes in many workplaces, the charity institution at large is expected to be no exception. To say the least, operations in charity organizations are going to be digitized by the introduction of computers and the internet of things to enable the sharing of information.
The digitization of charity will enable virtually all charity operations to be conducted in a digital platform to enhance data sharing between the organizations and the well-wishers. The digital impact is also highly likely to impact the way people give. The introduction of fintech through mobile wallets is expected to cause more people to give more towards charity.
Boosted transparency
Charity organizations are anticipated to become more transparent, especially when it comes to investment and utilization. The transparency will become a key determinant in helping attract more philanthropists to channel their contributions to the organizations. In addition, donors will also increase their voice towards calling for transparency and accountability, especially when it comes to visualizing how their funds are being utilized. In that regard, a major trend is arising where charity organizations establish networks with their donors where any project undertaken gains support from donors.
