Corporate Sponsorships And Donations Support Civic And Social Organizations Market Growth
Feb 1, 2022
Increasing donations from corporates is driving the civic and social organizations market. Sponsorships from corporates are great sources of funding for these organizations to promote and fulfil the needs of society. These donations come in various forms such as philanthropic, event sponsorship, cause marketing, pro bono, matching gifts, paid release, in-kind gifts, and check-out campaigns. For instance, in April 2021, The Ithaca, a New York-based online fundraising tool for nonprofits had assisted over 40,000 organizations in raising over $2 billion. During civic Giving Days in August 2020, it facilitated a record-breaking $124 million in donations. Moreover, in June 2020, BMO Financial Groups, a financial service provider, announced plans to donate $1 million to a number of organizations in North America that provide support to social and racial justice, and inclusion. According to civic and social organizations market research, the increase in donations from corporates is positively impacting the growth of the market.
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