Step change in charitable giving through The Funding Network during Covid-19
The Funding Network's (TFN) shift from in-person to virtually-hosted events has resulted in a dramatic increase in funds raised and one of the most successful years in our 19 year history.
At the end of March 2021, the total funds raised for charity (including Gift Aid) had increased by 15% compared to the preceding 12 months. At TFN’s ‘flagship’ events*, funds raised have increased by 67%. This increase in charitable giving at virtual events has been driven by:
- More attendees and more donors: Virtual events have seen an increase in attendance by 71%, with a 10% increase in donors
- On-the-night generosity is up: The average donation size has increased by 12%
TFN’s Chief Executive, Eugenie Harvey says; “We have been running virtual events for 12 months now and the trend is clear. After 14 virtual events, we are attracting bigger crowds and raising more much-needed funds for small underfunded charities.”
In March 2020 TFN pivoted to host its live crowdfunding events online, adopting an easy-to-use streaming software, Crowdcast. While this required nimbleness, no new skills or staff were required, allowing the team to move swiftly and continue to host the planned programme of events – albeit from bedrooms and living rooms.
Lucy Newmark, TFN Member and Sponsor of recipient non-profit, A Partner in Education (APIE), had this to say following the Autumn 2020 event:
“The final amount was so much more than we hoped for and will be a real help for our teachers and students. It’s a reminder to me that even at a difficult moment for the charitable sector there are still people out there willing to help - and that TFN has the knack of finding them.”
Virtual events have a clear role to play in live crowdfunding and the future of TFN. They increase the reach for events previously restricted to the London commuter belt and they narrow the distance between recipient non-profits and potential donors, allowing questions to be asked and fielded from the comfort of living rooms, increasing trust and transparency.
TFN now has an exciting new string to its bow and we will continue to explore and understand the possibilities digital innovation has in unlocking charitable giving.
*Previously London-based events, now online, these are wholly produced by the TFN team. ‘Flagship’ events differ from TFN Partner events which are co-produced with other charities or volunteer groups.
About the Funding Network
TFN is an open network which links potential donors to charitable cases and social entrepreneurs through live crowdfunding. We raise money for and build the capacity of small non-profits driving social change and help both individuals and businesses to combine their giving with others, to make a bigger impact.
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