The Giving USA 2015 Report on Philanthropic Giving, the annual report on the state of philanthropy in the US, was released on June 16 from the Giving Institute. In our 4-part webcast series, GG+A experts weigh in on this year’s findings and their implications for development professionals and philanthropic management.
Below, GG+A Senior Executive Vice President and Managing Director G. Robert Alsobrook looks at giving trends in Healthcare.
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“On the whole, it’s an encouraging picture for healthcare organizations,” notes GG+A Senior Executive Vice President and Managing Director G. Robert Alsobrook about the 2014 totals to Health shown in the Giving USA 2015 report.
Healthcare organizations received contributions of $30.37 billion in 2014, for an 8% share of total contributions. While healthcare’s proportion of received gifts slipped a bit from 10% in 2013, total gifts reached a record high in 2014.
Alsobrook points out that those numbers don’t include funds for academic healthcare institutions, such as research and medical schools, which the Giving USA report includes in the Education category.
“It’s an important segment to note because a lot of private individual philanthropy in education is intended for academic medical programs and research,” Alsobrook notes. He points to figures compiled by the Association of American Medical Colleges of total contributions to its top ten member organizations* in 2013 (the latest figures available) representing a sizeable chunk of dollars in the Education segment.
“Collaboration is a ‘gold standard’ of what donors want to see.”
– Deb Taft
Deb Taft notes a wider trend in fundraising for academic healthcare organizations: broader collaboration in medicine and science.
“Donors are expecting a lot more collaboration across what have been traditionally been fairly siloed approaches to cancer, heart health, brain health, pediatrics, and basic research entities. Collaboration is a ‘gold standard’ of what donors want to see.”
Alsobrook notes several important trends in fundraising for healthcare organizations:
Donors’ increasing scrutiny on ROI. Measuring the performance of gift officers is key, and the ability to track fundraising’s impact and results.
Engaging top volunteer leadership, especially those who can influence others to support the program. Development teams are also increasing efforts to involve physicians strategically in fundraising.
Grateful patient fundraising efforts are integral. Most academic healthcare organizations have some form of this fundraising and are connecting it to major gift initiatives.
Stewardship is among the most important drivers for attaining major gifts and recurring major gifts.
Mega gifts are driving increases in individual philanthropy, indicating that major gift fundraising for healthcare institutions must continue to remain with individuals.
Tune in to our other webcasts on the Giving USA 2015 report: