How COVID-19 has forced us to Reimagine Charitable Giving.
Wed 12 May 2021
The coronavirus pandemic has undoubtedly caused an acceleration in the adoption of digital tools. A recent survey of CEOs conducted by Fortune magazine and Deloitte showed that 77% of CEOs reported that the COVID-19 crisis accelerated their digital transformation plans.
While COVID-19 represents an acute disruption today, it also presents an opportunity to break away from traditional charitable giving solutions to more accessible, inclusive, and effective solutions that not only engage donors and beneficiaries alike but reinforce the culture of giving.
In the last 8 months, we have seen an unprecedented level of giving by charitable organizations and donors alike, most of these funds have been directed to support people, businesses, and communities but questions still remain. Questions like How do we measure the impact? Are we providing funds to the right people? How do we know? How can we improve the process?
Organizations are beginning to realize the need to better educate and inform donors on impact. They are asked to pay attention to other factors of nonprofit performance: inclusivity, equity, and accessibility. Measuring outcomes and impact is not only important to change strategies as needed to help organizations deliver on the desired end results, but it also provides organizations with insights and useful data to understand much more about the people they serve. These insights are a powerful tool that could be used to positively change the trajectory of many communities especially underserved and low-income communities.
Given the current situation we find ourselves in as philanthropists and beneficiaries alike, we have no choice but to reimagine charitable giving if we want to collectively emerge out of our current situation stronger and more economically resilient.
It is clear that there is a need for a digital, user-centered product that is innovative, both donor and beneficiary focused, provides insights grounded in evidence, and illustrates the impact of charitable giving.
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