Charitable giving rose overall in 2022, according to a recent report, but not all non-profit organisations saw the benefits.

The 2024 Bermuda Philanthropic Pulse Report, released by consulting firms Wavecrest and CCS Fundraising, found that of the 36 charities surveyed, 52 per cent saw their revenues increase in the 2022 financial year.

However, 17 per cent of respondents reported a modest decline in revenues and 19 per cent said they had seen revenues drop by more than 10 per cent that year.

Wavecrest and CCS Fundraising said that although there were positive signs of recovery, there remained real challenges for the sector.

“Participating organisations identify board engagement and donor acquisition as top challenges in their fundraising efforts,” they said.

“To address these, organisations are prioritising plans to invest in hiring and retaining staff in the coming years.

“The report emphasises the crucial role of non-profit executive leadership in driving significant fundraising activity.”

They added that the report highlighted the importance of organisational sustainability through an effective fundraising strategy.

“While non-profits are generally meeting their annual fundraising goals, they are struggling to establish a surplus beyond six months,” they said.

“As non-profits navigate the changing landscape, investing in skilled non-profit leadership and dedicated fundraising staff is crucial to ensure continued growth and long-term success.”

The 2024 Bermuda Philanthropic Pulse Report was based on data collected through an online survey commissioned by Wavecrest and CCS Fundraising between August 2023 and February 2024.

A total of 36 organisations responded to the survey, with the results compared with similar Wavecrest surveys carried out in 2019 and 2020.

According to the report, 58 per cent of charities said they were able to reach their fundraising goals in 2022, up from 43 per cent in 2020.

Corporate donations represented about a third of those received by the respondent charities with $6.6 million in donations listed compared with $4.1 million given by individuals, $2.4 million from foundations and $1.1 million from the Government.

Fundraising events accounted for another $1.7 million, while $3.7 million was received from other categories including services, camps, merchandise and rentals.

Education and health-related charities claimed the largest portions of the pie, each receiving about one third of the donations reported in the year.

While the social and human services sector saw its share of donations plummet from 40 per cent to 14 per cent, the report said that the decline stemmed from a falling number of survey respondents in the sector.

Board engagement and recruitment was the most common challenge listed by the charities with half of respondents listing it, followed closely by donor acquisition and changes in corporate giving strategies.

The report said the results were similar to surveys of American non-profits, which listed donor acquisition and retention as their top challenges, followed by hiring and retaining fundraisers.