The National Bureau of Statistics in China recently released key economic indicators, showing a continued recovery in production, services, investment, and consumption from January to February.
According to the “2024 China Economic Forecast and Outlook” report by the Prediction and Research Center of the Chinese Academy of Sciences, China’s economic growth in 2024 is projected to exhibit initial low growth followed by high growth, with an annual growth rate of around 5.3%. This suggests anticipated stable growth for the Chinese economy in 2024.
How can NGOs capitalize on this trend? The model of the six elements of large-scale fundraising may offer fresh insights. These elements include importance, innovativeness, standardization, urgency, relevance, and effectiveness.
A charitable organization sought to enhance large-scale fundraising effectiveness and engaged the Resende team for consultation. Using the six-element model, the company gathered first-hand information on the organization.
They discovered that corporate donations accounted for 68% of this foundation’s contributions, with real estate, finance, and energy companies being the major contributors. Comparing donor feedback with the foundation’s self-assessment, the team identified significant disparities in perceptions and evaluations of cooperation, particularly in relevance, effectiveness, and standardization.
In-depth interviews and group discussions confirmed these findings. For instance, in terms of effectiveness, the foundation collaborated with various departments of companies, resulting in differing evaluations due to varying functions and levels of involvement.
In large-scale fundraising efforts, fundraising managers confront numerous challenges such as understanding needs, communication, cooperation model design, and follow-up maintenance.
Managers must first consider the perspective of large donors, including companies, foundations, and boards of directors/high net worth individuals, to grasp the value and significance of cooperation. Charitable organizations may perceive certain projects as crucial, but for donors, they might be seen as secondary, falling into the important but not urgent category.
Charitable organizations need to articulate the effectiveness of cooperation to build donor confidence and drive action. Emphasizing legality, compliance, standardization, and innovativeness are within the control of charitable organizations.
