In this episode of the First Day Podcast, host Bill Stanczykiewicz, Ed.D. looks at the uncertain economic climate of mid-2024 and its potential impact on fundraising efforts. The big question on everyone’s mind: are we on the brink of a recession, or is it just a distant possibility? With conflicting signals from various economic indicators—like the rise in unemployment to 4.3%, fluctuations in the stock market, and a mixed performance in sectors like construction and manufacturing—Stanczykiewicz explores the nuances of these trends and what they might mean for nonprofit organizations.

Stanczykiewicz emphasizes that while the economy shows signs of both strength and potential decline, the principles of effective fundraising remain consistent. The key takeaway for fundraisers is to maintain strong, trust-based relationships with donors, focusing on their philanthropic values and motivations, which don’t waver with economic conditions. He notes that during economic downturns, organizations with solid donor relationships often retain support, even as overall charitable giving might see minor declines, typically just half a percent after inflation.

Additionally, Stanczykiewicz highlights the importance of preparing for potential recessions by building an operating surplus. While this may sound daunting, he reassures listeners that it’s a skill that can be learned and implemented, pointing to the training offered by The Fund Raising School as a resource. Moreover, he underscores the idea that fundraising should be a constant effort—recession or not—where every day presents an opportunity to share your nonprofit’s story and make a compelling case for support.