Nonprofit arts programs develop new fundraising strategies
November 05, 2012
Nonprofit arts programs are cultivating new ways to encourage donations that appeal to younger generations of donors, according to a recent article in The Washington Post. This could become more prevalent as older generations, which have typically represented one of the most important donor demographics, fade out and are replaced by new waves of wealthy individuals.
In fact, the media outlet highlights a Federal Reserve Survey of Consumer Finances, which indicates the shift is already taking place as there are more millionaires in their 50s than 60s.
"We spend a lot of time talking about and thinking about changing demographics and technologies," Marie Mattson, vice president of development at the Kennedy Center, told the source. "People will not walk around with fewer electronic devices in the future. It's going to be more and more part of the culture, and we have to keep asking, 'How do we break in?'"
This question has lead some individuals to consider innovative new fundraising methods, such as crowdfunding, fiscal sponsorship and alternative income sources, such as renting out unused space, reports Blouin Art Info.
As foundations tap into emerging digital channels to raise funds online
, they can benefit from nonprofit fundraising software
that tracks incoming donations and quantitatively measures the success of their efforts.