Trusted Charity
Donor trust report
In its 2023 Donor Trust Report, Give.org reported on the state of public trust in nonprofits and the charitable industry. The report shed light on donor perceptions of the charity sector and how trusted charity was important to them. Areas included in the report: Trust Accountability Elements, Trust in Nonprofit Terminology, Trustworthy Signals for Nonprofits, and Reasons to Stop Donating.
Importance of trust
Survey recipients answered questions about trust in charity, including one about the importance of trust when donating to nonprofits. The results from this later question were remarkable. According to Give.org, of the 3,100 active donors receiving the survey, 70% responded that "High Trust" was "very important." It makes sense that donors value trust when planning to support an organization. However, the percentage of donors requiring a "high" level of trust is sobering.
Trusted charity challenge
High trust is challenging to accomplish for any organization. However, the situation gets even more trying for charities: while 70% of donors feel highly trusted charity is essential, less than 20% actually express high trust in charities. According to this donor trust report, a 50% gap exists between trust in charity and donors who feel that a trusted charity is vital. Of the report respondents, 1,550 donors need high trust in charity but don't have it. If applied globally, this metric means that over 700 million of the1.4 billion donors worldwide lack high trust in charity while at the same time believing it is very important to have a trusted charity.
Consider trust
So what's the deal? How are nonprofits missing donor expectations of trust so significantly? Why aren't charities building trust among donors? Charitable organizations will find it critical to address these considerations as they approach the future of giving. If nonprofits undervalue donor trust, they will fail to support their mission. However, organizations that prioritize building trust among their donors will secure support and further their missions.