Now in its second year, The Status of ANZ Fundraising Report from Blackbaud Pacific provides a detailed glimpse into the ever-evolving landscape of the social good community. Based on data collected from 260 nonprofit professionals, the benchmarking report not only explores current challenges faced by Australian and New Zealand social good organisations in 2023, but also provides crucial insights into how diversification, digital maturity and technology can help drive growth.
Insight 1: Income stream diversification helps drive growth
In 2023, 50% of organisations met or exceeded their fundraising targets and diversification emerged as a key strategy for this success. The report underscores the importance of income diversification, highlighting that organisations that rely heavily on grants often face substantial fundraising challenges. According to the report, “Income diversification is crucial for long-term sustainability, allowing organisations to weather economic storms effectively.
Insight 2: Digitally mature organisations are more likely to see income growth
A correlation was discovered between digital maturity and income growth. Organisations with advanced digital capabilities reported a 15% increase in income compared to the previous year. “Digital maturity is not just a luxury but a necessity in today’s fundraising landscape. It empowers organisations to connect with supporters effectively,” states the report.
Insight 3: Organisations understand techbut fail to get the most out of it
While 76% of organisations have a fundraising CRM in place, only 28% felt they were maximising its potential. Budget constraints and staff turnover were significant barriers. The report emphasises, “Investing in the right technology and providing continuous training are pivotal. A well-utilised CRM can significantly enhance donor relationships and fundraising outcomes.
Insight 4: Economic downturn continuesto challenge the sector
The report highlights economic uncertainties as a prominent challenge, which has led to significant declines in income for some organisations. However, amidst these challenges, there’s optimism. “Organisations are showing remarkable resilience. Their willingness to innovate, adapt and understand supporters is inspiring,” notes the report. The Status of ANZ Fundraising Report 2023 shows that by embracing digital maturity, diversifying income streams, and addressing technology challenges, nonprofit organisations can navigate uncertainties and thrive.
Despite today’s economic challenges and rising costs, the report ends on an optimistic note: “Organisations are showing a strong willingness to innovate, try new things and adapt to change, on top of wanting to understand their supporters, respond to feedback and collaborate.”
Download your copy of The Status of ANZ Fundraising Report 2023 today.