Higher Rewards Joins Medium!
Numerous industries suffered as a result of the COVID-19 pandemic and the nonprofit sector is no exception. Employment among nonprofits decreased by 7.4%, meaning that over a million jobs were lost in the non-profit sector during the pandemic. Nonprofits were hit hard by the pandemic because their main source of funding, donors, was more difficult to access. Giving has decreased by 6% and 73% of charities lost significant funds, likely due to the lack of interest and availability of large donor events and other fundraising campaigns. Although there are virtual solutions such as Zoom events, it can feel difficult to stand out. Donor retention relies on creating connections that simply aren’t the same over Zoom.
Consistent fundraising requires a reliable community. Building a community requires tools; many nonprofits are turning to social media and crowdfunding sites to make up for the lack of interest in large in-person events. Still, the poor state of fundraising indicates that these tactics aren’t enough to keep donors coming back. Nonprofits need to take a new approach that turns giving into a habit.
The solution is to make donating as easy as everyday spending. And what tool gives an individual as much agency when it comes to their consumption habits as a credit card? Higher Rewards encourages passive donations from frequent donors. With Higher Rewards, nonprofits can create personalized Visa credit cards to hand out to top donors. The cards can be used to give 2% of spending back to nonprofits while also acting as a badge of honor. In order to celebrate the causes we care about most, we must be willing to show constant support.
At Higher Rewards, we are passionate about working with nonprofits to fast-track their goals and maximize their impact. That’s why we’re joining Medium today. Every week, our team of passionate writers and researchers will post our thoughts on startups, nonprofits, banking, education, and more. Make sure to follow our blog for updates and contact us if anything we say interests you.
