March 4, 2020 | Read Time: 1 minute
More than half of fundraising consultants expect that the recent stock-market declines fueled by coronavirus fears will hurt fundraising over the next three to six months, according to a new survey.
The Nonprofit Alliance, which conducted the survey, cautioned that the results are based on only 24 responses from fundraising agencies. However, those agencies are speaking for a much larger pool of clients, said Shannon McCracken, chief executive of the alliance.
“Everybody is feeling insecure because the stock market is on a roller coaster,” McCracken said. “That doesn’t inspire charitable giving.”
The survey also found that a third of fundraising consultants are advising their nonprofit clients “to prepare for financial impact from a coronavirus pandemic.”
McCracken noted that a slow-moving problem like the coronavirus probably doesn’t inspire the same kind of donor response as a hurricane or other natural disaster. However, it’s probably too early for nonprofits to adjust their fundraising messaging, except in areas that have been directly affected by the coronavirus.
“It’s a fluid situation,” McCracken said. “What’s true today might not be true next week.”
She said that so far nonprofits are mostly “doing lots of looking around and saying, What is everyone else doing?”
The alliance sent a modified form of the survey Wednesday to it’s full membership, and it expects many more responses by early next week.
Like many other charity-related groups, the Nonprofit Alliance is hosting a conference this spring — April 21 through 23 — in Boston. The alliance has informed attendees and speakers about the precautions being taking in response to coronavirus fears.
“At this point we’re move forward as planned,” McCracken said.
