Tzvi Odzer is well known for his expertise in philanthropy, politics, sports, business, and for his work to benefit the nation of Israel and its communities. We sat down with Tzvi Odzer to discuss the state of philanthropy in 2020 and projections for 2021. Here’s what we learned.
According to Tzvi Odzer, the state of fundraising for charitable organizations is undergoing major changes at present.
For starters, Tzvi Odzer tells us, virtual events are part of the new normal. This is largely due to the present COVID-19 pandemic. It is something that aging populations, who are a focus group for charities, have a particular interest in maintaining. But virtual events also come with a number of additional benefits, according to Tzvi Odzer. He says they eliminate the limitations imposed by geography and even reduce the limitations of time constraints as presentations can be recorded and viewed later.
Charitable organizations will be looking more and more to recurring givers. As the medical costs and risks of reaching out to new givers continue to rise, the value of recurring givers is likely to become more apparent than ever, Tzvi Odzer says. In 2020, organizations that raised $50 million or more attributed as much as 26% of their total revenue for the year as derived from recurring givers.
Connections Between Non-Profit & For-Profit Orgs is Expected to Grow
Tzvi Odzer reminds us that the events of 2020 have blurred the lines between for-profit organizations and their charitable, non-profit counterparts in many cases. Non-Profits have taken pages out of the handbooks of for-profit organizations in order to become more sustainable and scalable. Tzvi Odzer says that for-profit companies benefit from the association with charitable entities from a public relations standpoint, as consumers are attracted to the idea that a portion of the money from their purchases online or otherwise will benefit needy demographics.
Meeting Supporters on Their Terms
From our conversation with Tzvi Odzer, we have also learned that charitable organizations will have a growing need to meet their donors at their homes, businesses, and other locations familiar to them. This is done, Tzvi Odzer says, in part as a way to show appreciation for their charitable giving, but also to reduce the risks associated with forming crowds in enclosed spaces.
Finally, Tzvi Odzer explains that charities will need to develop flexibility in the ways they achieve their goals. Working online and meeting donors where they live is just a start. Tzvi Odzer talks about the importance of crowd-funding, peer-to-peer campaigns, and virtual events to drive philanthropy where it needs to go in the coming years.