How Today’s For-Profit Tech Will Revolutionize Tomorrow’s Fundraising
We all love the concept. After all, comparing ourselves to the competition or those we consider to be leaders in the industry is a great way to measure our progress.
Yet, within the nonprofit sector, it’s also very easy to have tunnel vision and only focus on similar (and like-minded) organizations within our own playing field.
Well, when it comes to implementing innovative new technology in particular nonprofit organizations don’t exactly have the reputation for being at the forefront of such movements. And as the competition for donors continues to get more fierce, especially due to an ongoing decline in the rate of giving, the need for nonprofit fundraisers to be on the right side of the innovation curve will become that much more important.
That’s where an understanding of the types of technology currently being used in the for-
profit space can separate your organization from the pack. And there’s no better place to look than artificial intelligence (AI).
Global investments in AI jumped to a record high in 2021, approaching nearly $80 billion. That’s more than double the total from just the previous year alone. More and more industries are recognizing the immense capabilities and potential behind this technology, which powers platforms most of us use on a daily basis, from Google to Waze.
For fundraisers, AI has the ability to forever change the way donors give to charitable organizations and how fundraisers work. It’s not here to replace fundraisers, but instead help them scale their efforts in ways previously thought impossible.
AI is also behind buy now, pay later solutions (BNPL), which provides customers an easy, interest-free way to make purchases over time (without affecting your credit score, too). It’s quickly becoming the fastest-growing form of debt for people without credit cards, which includes many members of Generation Z. For nonprofits, this financial technology movement takes on a slightly different look and feel but with the same flexibility and convenience behind it: Give now, pay later.
Global investments in AI jumped to a record high in 2021, approaching nearly $80 billion. That’s more than double the total from just the previous year alone.
Through this flexible giving solution, donors can make a gift to their organization of choice while spreading gift payments over time, similar to BNPL. There’s no hidden fees or credit check, just the guarantee that the nonprofit organization receives the full gift upfront and can put the gift to more immediate use for social good. In other words, it’s a win-win for donors and nonprofits, alike.
With nearly $486 billion dollars donated last year, the majority of which came from individual donors, discovering new ways to remove barriers means scaling your nonprofits efforts like never before. It has the potential to drive change in unprecedented ways.
Need more proof? Just ask your friends in the for-profit world.
Learn how the Social Good's sector's first "Give Now, Pay Later"
AI-enabled fintech solution can revolutionize the way you fundraise.