Bullish in 2021
GSB: We are bullish on capital campaigns in 2021 and beyond
Many non-profits and churches delayed capital campaigns when the pandemic struck in 2020. Many were concerned about the resulting recession and accompanying unemployment rates.
What actually happened is remarkable. Donors for our nonprofit and church clients in many cases increased their giving.
Several capital campaigns which forged ahead were spectacularly successful. Across the country we saw significant leadership gift commitments, some in the six figures for organizations with no history of six figure gifts.
As we look ahead, we at GSB Fundraising are bullish on capital campaigns in 2021 and beyond.
The increasing pace of vaccinations across the country bodes well for a partial reopening in the late summer into the fall.
A record savings rate in the US combined with pent-up demand for goods and services, entertainment and travel lead economists to predict an increase in earlier estimates for the GDP as well as lower unemployment rates. Consumer and small business confidence indices are high.
Now with light beginning to show at the end of the COVID-19 tunnel, the words “pent-up demand” are echoing throughout the business world. The CEO of JetBlue says pent-up demand for travel will help his company soar back to profitability.
Executives at Marriott claim people will come rushing back to the company’s hotel rooms. According to a recent analysis by AlphaSense, a company that uses artificial intelligence technology to sift through Securities and Exchange Commission filings, event transcripts and other business documents, use of the term “pent-up demand” is at an all-time high.
Executives in industries devastated by COVID-19 clearly want investors to believe that they’re on the verge of a roaring comeback. And some evidence suggests they may be right.
According to data from the U.S. Bureau of Economic Analysis, the national savings rate has jumped during the pandemic, so people may have extra cash to burn on big trips, fancy cocktails and Broadway shows. And, man, do people miss going out.
According to a recent survey by the Harris Poll, 71% of Americans say they miss socializing in restaurants and bars, 61% say they miss shopping in stores and 52% say they miss movie theaters. Growing percentages of people say they’re planning on splurging on vacations, clothes, cars and sporting events when things return to normal.
Fifty-nine percent say they would take a COVID-19 vaccine in order to fly again. After news broke that COVID-19 vaccines work, stocks for airlines, cruise lines and other industries that rely on being face-to-face surged.
Places that have gotten the virus under control have already seen some impressive rebounds in travel and leisure. For example, in China, domestic airline travel came roaring back after the country ended its shutdowns. When Shanghai Disneyland reopened, tickets sold out in minutes. (NPR’s Planet Money, What 1919 Teaches Us About Pent-Up Demand, January 12, 2021)
The pandemic has shown all of us what is truly important in our lives.
For many, that is the organizations and churches that have made such an impact on our lives and our communities with their capital campaigns. What we have seen throughout this pandemic is significant generosity being shared with these organizations.
Nonprofit organizations and churches have continued to serve (albeit some in very different ways) throughout the pandemic. We have seen a resulting increase in donor passion and dedication. When combining that with donors’ economic confidence in the near term, we are excited about moving forward with capital campaigns across the country.
GSB Fundraising’s mission is strengthening charitable causes to change the world through generosity. At GSB Fundraising, we have a passion for philanthropy – the art of giving and asking for gifts. We have a large team of partners and consultants that make up GSB Fundraising.
We are in the business of creating lasting relationships with organizations whose missions depend on creating a sense of stewardship among its members. Learn more about creating a culture of generosity here.
Located across the country, each consultant comes from a background in fundraising and drive to help non-profit organizations succeed. Talented partners and associates comprise the GSB Team – experts who can be drawn upon at a moment’s notice.
It’s reassurance that your journey, no matter the bumps along the way, will be successful. You will reach your destination. Follow us on Facebook for more updates.