Classy, a giving platform that enables nonprofits to connect supporters with the causes they care about, announced today that its nonprofit customers collectively raised more than $1.1 billion on the Classy platform in 2021.
Despite another year of uncertainty, donors once again rose to the challenge for charitable giving, providing not only one-time donations but also increasing the number of recurring donations in 2021 by 55% on the Classy platform.
Further, data from Classy found that donor generosity was not limited to a single cause or even payment method this year, ushering in a new era of American philanthropy. Classy's Why America Gives 2021 report found that about one-third (31%) of donors would support at least three organizations with ongoing recurring donations in 2021. Classy saw donors fulfill their intent by committing to $30.8 million in recurring donations on the Classy platform in 2021, a substantial increase from last year's record of $19.9 million.
"Recurring giving is the lifeblood of nonprofit organizations," said Soraya Alexander, COO of Classy. "The sustainable revenue of a recurring donation, no matter how small, is crucial to ensuring an organization can make investments to continue serving their constituencies. We are proud to see more than 569,000 new recurring donors on our platform this year supporting the most important causes in our society."
Alongside recurring giving, an increased focus on technology, particularly flexible payments, moved the needle for nonprofits in 2021. Classy offered customers new methods of accepting donations, including a Crypto Giving Fund and the ability to accept donations via PayPal. Classy Pay with PayPal has only been available since October but has already processed $21 million in donations, showing a strong interest in this newer method of giving and a need to build tech-driven experiences that mimic the consumer journey.
"The social sector emerged stronger in 2021 as a direct result of resilience, innovation, and a willingness to try something new," said Soraya Alexander, COO of Classy. "Nonprofits that stepped outside of traditional donation methods to create donor-first experiences excelled. For example, our customers who adopted Classy Pay with PayPal have seen remarkable results, including a 30% increase in donation size compared to credit cards."
Based on Classy's 2021 fundraising insights, the future of giving lies in cultivating a donor experience in which donors want to give again and again. Through new product launches like the integration of PayPal and Venmo for mobile giving, the introduction of Cryptocurrency Giving Funds, or the hybrid event platform, Classy Live, Classy will continue to help nonprofits digitize and scale their operations in 2022 to better improve the giving experience for all.
The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of NonProfit PRO.