Philanthropy in 2024: Lessons Learned and Inspiring Paths for 2025
As 2024 draws to a close, I find myself reflecting on the year of jumping into this new business. I chose this work because I believe in the power of philanthropy and how it shapes our communities, opportunity, and allows us to tackle really big challenges together. I believe deeply in our collective ability to support, encourage, and address creative solutions to complex challenges. This year brought its share of triumphs and trials for both donors and nonprofits, highlighting the dynamic nature of giving and the necessity of adaptability.
Whether you’re a donor seeking to make a meaningful impact or a nonprofit striving to maximize resources, the end of the year offers us a chance to look back on what worked, what didn’t, and how we move forward together into a fresh New Year.
Philanthropy in 2024: Trends and Highlights
This year, philanthropy showcased innovation and resilience in the face of economic uncertainties, shifting social priorities, and increasing demands for transparency. Giving USA estimated that $557.16 billion dollars were given to charities in 2023 and while we’ve seen some shifts in the mechanisms donors use to deliver those dollars, it remains true that the largest percentage of those dollars, a whopping 67%, come from individuals.
One of the trends I’m finding exciting in the philanthropic world is seeing how donors are embracing collaborative approaches to giving - using giving circles and pooled funds to support greater impact of shared goals. This is not groundbreaking strategy my any means, we’ve long had opportunities to give to collective efforts, but the biggest shift is seeing donors find ways to step into their role in developing and designing the goals, understanding the impact and challenges of the nonprofits they’ll support, and allowing for both deeper understanding of community issues and garnering more understanding of the power of their dollars through the learning and education involved. Yes, to that!
Another trend I expect will continue is the rising expectation for transparency and defined impact. As we see new generations of givers step up to philanthropic tables, they are asking new questions about where their dollars are going and the need to understand its impact. This is not a bad thing. As a sector, we have the opportunity to tell our story and show the compelling impact we have in our communities. Donors are allowed to ask these questions and we can use these opportunities to deepen their commitment along the way.
A Shared Path Forward
The most impactful philanthropy occurs when donors and nonprofits work as true partners. Open communication, shared goal-setting, and a mutual commitment to learning can bridge gaps and create transformative change. Donors: Ask your nonprofits what they need most to succeed. Nonprofits: Share your vision, challenges, and successes with transparency and enthusiasm.
As we step into 2025, let’s carry the lessons of 2024 with us: this is our chance to reflect, learn, and plan with intention. Whether you’re a donor ready to deepen your impact or a nonprofit leader navigating new challenges, New Year markers offer us the opportunity to have the proverbial ‘fresh start’.
If you’re seeking personalized support to make 2025 your most impactful year yet, I’m here to help. Explore how The Good Philanthropist coaching and educational services can help you gain clarity, build strategy, and find the tools you need to succeed.
Let’s make 2025 a year of thoughtful giving, strong partnerships, and transformative results.