Just released is the August 2014 NAB Charitable Giving Index (Read it here>>) with some very interesting observations. The full report is worth a read, however, some highlights to stimulate your interest include:
- Charitable giving grew by 6.4% in the twelve months to August 2014, however early in the year it was growing at nearly 9%. Why the decline? Two significant reasons appear to be difficult economic conditions and consumer anxiety over the cost of living.
- The average annual donation was $315 per donor, which is up $11 from the same time in 2013.
- However, compare this with the average annual per person spend on gambling ($2,263), Confectionery ($612), and Cakes, biscuits, etc. ($438).
- The size of the donation grows with age! Those aged 65+ gave on average $400 per person. People aged between 15 – 24 gave $100, and those 24 – 34 $175.
- Interestingly the metropolitan areas tend to give more than the regional areas.
- A new addition to the index is giving by type. Unfortunately cash is not captured in the data, however of the remaining types, Credit Card and EftPos are use 90% of the time, and BPay and Direct Credit 10%. Credit card and EftPos giving has grown 25% since December 2010, which BPay and Direct Credit have fallen by 1% in recent years.
So what? If you are an organisation that relies heavily on charitable giving, then this report is very important for you. Are you targeting the right groups? Are you preparing for a decline? Do you have Credit Card and EftPos facilities? You need to be addressing all of these if you want to maximise your income from charitable giving.
If you would further information on how Avondale Business School can help your organisation, contact Warrick Long
P: 02 4980 2168