What makes people give? Keys to charitable giving in tough times
December 2, 2008 (Toronto, ON) – Tough economic times often result in charities’ needs being greater than usual. While Canadians remain full of good intentions about charitable giving, a new survey by TD Bank Financial Group for Children’s Miracle Network has uncovered several keys to inspiring people to follow through with a donation.
“We wanted to pinpoint the triggers that move Canadians from good intentions to good deeds during turbulent times,” said Tim Hockey, President and Chief Executive Officer, TD Canada Trust. “As TD launches its annual fundraising campaign for Children’s Miracle Network, we also wanted to ensure our strategy is aligned with Canadians’ current attitudes about charitable giving.”
The survey unveiled four key factors that would encourage Canadians to give more:
Tax credits matter – Generous tax credits earned the number one spot, with 45 per cent of respondents indicating that they would give more if they got more back. While this is something charities cannot control, it highlights the importance of reminding donors of the connection between giving and getting – particularly as the end of the tax year approaches.
Communicate the need – Canadians are also motivated by a sense that charities and not-for-profits need more resources given the state of the economy. One in three Canadians (32 per cent) say a sense of financial urgency for charities would be enough to lead them to donate more.
If someone I trust asked me to give – I would – For 28 per cent of respondents, the odds of a donation are greater if the ask comes from someone they trust. While this could be a friend, family member, celebrity or established institution, charities should look at using a respected and reliable source to help make Canadians feel more comfortable donating.
Youth need convenience – While only seven per cent of Canadians say convenience is a big factor – for example, contributing through automated monthly donations – that number almost doubles among those aged 18-34 (13 per cent), a significant finding for charities trying to cultivate younger donors for longer-term giving. A 13 per cent increase in charitable giving from any demographic can make a big difference, particularly during challenging times.
About the survey
From November 10 to November 11, 2008, Angus Reid Strategies conducted an online survey among a randomly selected, representative sample of 1,002 adult Canadians. The margin of error for the total sample is +/- 3.1%, 19 times out of 20. The results have been statistically weighted according to Statistics Canada’s most current education, age, gender and region Census data to ensure a representative sample of the entire adult population of Canada. Discrepancies in or between totals are due to rounding