Optimising Revenue Streams and Incorporating
Modern Technology Drive Growth
LONDON, Aug. 22,
2024 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the
leading provider of software for powering social impact, today
released its 2024 Status of UK Fundraising Benchmark Report. This
report provides essential data on current fundraising trends in the
UK, helping social impact professionals understand the sector and
benchmark their performance. With a research focus on emerging
innovations and social impact technology ecosystems, the report
also helps nonprofit organisations inform their digital fundraising
strategies to maximise their impact.
"The annual Status of UK Fundraising Report gives a
comprehensive view of the social impact community in 2024, helping
nonprofits understand and benchmark their performance," said
Philip Hunt, Senior Manager,
Marketing, Blackbaud International Markets. "The nonprofit sector
is in a constant state of change with economic and political
uncertainties, and the global pandemic aftermath. Despite this, we
are seeing success in more intentional strategies that focus on
maximising the potential of technology and driving sustainable
growth through income stream diversification. AI, too, is shaping
the nonprofit sector. These modern innovations propose exciting new
opportunities, but also underline the need for accelerated policy
making to ensure responsible and ethical use of AI."
For this research, over 850 industry professionals completed an
online survey, and additional virtual interviews with participants
gave more in-depth insight into some of the key findings.
Key Findings
Diversified income stream portfolio helps nonprofits
grow.
- Growing organisations are more likely to have an evenly spread
income stream portfolio.
- In turn, organisations relying on grants as their main income
source are significantly more likely to say that their income
decreased.
The current economic situation continues to challenge the
sector.
- 79% of nonprofits reported feeling challenged by the economic
situation, and subsequent fewer donations. 58% of those who
struggled to grow rank the wider macroeconomic environment as the
main reason behind income decline.
- Public perceptions of the sector and changing demand for
services are also top of mind for participants.
Tech-savvy and innovative organisations are more likely to
experience income growth.
- Digitally mature organisations are significantly more likely to
say that their income is growing, suggesting that these tech-savvy
organisations are better able to capitalise on opportunities that
help them grow.
Most organisations use AI, but many wish they had more
resources to explore fundraising use cases.
- 57% of participants use artificial intelligence, and most feel
positively about it. Despite this, many say they lack resources to
explore how to maximise the true potential of AI in their
organisation.
- While most participants use AI, only 5% have an AI policy in
place, but a further 15% say that they are working on one.
Improved data management would bring the biggest value to
fundraising strategies.
- Most nonprofits use and are satisfied with their CRM system,
but many recognise that additional training could help them realise
the full potential of their software.
- 60% of participants agree that improved data management would
bring the greatest value to their organisation.
More research results can be found in the full Status of UK
Fundraising report. This resource is offered for free as part of
Blackbaud's commitment to accelerating social impact.
About Blackbaud
Blackbaud (NASDAQ:
BLKB) is the leading software provider exclusively dedicated to
powering social impact. Serving the nonprofit and education
sectors, companies committed to social responsibility and
individual change makers, Blackbaud's essential software is built
to accelerate impact in fundraising, nonprofit financial
management, digital giving, grantmaking, corporate social
responsibility and education management. With millions of users and
over $100 billion raised, granted or
managed through Blackbaud platforms every year, Blackbaud's
solutions are unleashing the potential of the people and
organizations who change the world. Blackbaud has been named to
Newsweek's list of America's Most Responsible Companies, Quartz's
list of Best Companies for Remote Workers, and Forbes' list of
America's Best Employers. A remote-first company, Blackbaud has
operations in the United States,
Australia, Canada, Costa
Rica and the United
Kingdom, supporting users in 100+ countries. Learn more
at www.blackbaud.co.uk or follow us on X/Twitter, LinkedIn,
Instagram and Facebook.
Media
Inquiries
media@blackbaud.com
Forward-looking Statements
Except for
historical information, all of the statements, expectations and
assumptions contained in this news release are forward-looking
statements that involve a number of risks and uncertainties,
including statements regarding expected benefits of products and
product features. Although Blackbaud attempts to be accurate in
making these forward-looking statements, it is possible that future
circumstances might differ from the assumptions on which such
statements are based. In addition, other important factors that
could cause results to differ materially include the following:
general economic risks; uncertainty regarding increased business
and renewals from existing customers; continued success in sales
growth; management of integration of acquired companies and other
risks associated with acquisitions; risks associated with
successful implementation of multiple integrated software products;
the ability to attract and retain key personnel; risks associated
with management of growth; lengthy sales and implementation cycles;
technological changes that make our products and services less
competitive; and the other risk factors set forth from time to time
in the SEC filings for Blackbaud, copies of which are available
free of charge at the SEC's website at www.sec.gov or upon request
from Blackbaud's investor relations department. All Blackbaud
product names appearing herein are trademarks or registered
trademarks of Blackbaud, Inc.
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