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Charitable organizations and individual donors have in the past supported projects that will benefit from their contributions to supporting humanity. However, the Covid-19 pandemic has shifted individual and organization’s giving. As a result, the parties are experiencing a renewed urge to increase their giving and limit their control on the scope of undertaking with resources donated. This change in philanthropic trends will help alleviate the negative impact of the epidemic. Consequently, the following are 2021 philanthropic trends:

Giving is now gaining traction.

The emergence of the Covid-19 pandemic negatively affects the health and economic status of people across the globe. However, the pandemic led to skyrocketing wealth for some individuals who provided essential services such as donating personal protective equipment, ventilators, and other hospital equipment and services used to diagnose and treat patients. The death of patients mounted pressure on the organizations and wealthy individuals to donate funds to control the spread of disease. The push has seen more entities and individuals come forward to support philanthropic efforts to safeguard more people.

Trust-based philanthropy is gaining attention.

The Covid-19 pandemic spread across the globe at an unprecedented rate. The efforts to curb the virus meant that managers would distribute the fund quickly and efficiently. Therefore, the party providing philanthropic donations and the receiver must trust that the receiver will utilize the funds in the best way possible. Trust-based philanthropy enables people in dire need access to resources in time.

Addressing wealth inequality

The existence of wealth inequality among the US population has forced the philanthropist to implement policy changes to address the existing gap. Low-income earners are crucial as they provide labor and market for industrial goods. Thus, the wealthy are formulating policies that will enable low-income earners to have better health.

Data will inform on access to philanthropic dollars

Philanthropy effort has become more data-driven in 2021. The donors and charity advisors make donation decisions based on data collected among the affected, the state of healthcare infrastructure, and people’s healthcare needs.

Although the Covid-19 pandemic has negatively affected people’s health and economic status globally, the epidemic positively impacted philanthropic efforts. The condition enabled the community to develop a trust system and an urge to give and address the underlying problem of social inequality in society. The project managers use the funds raised across a spectrum of projects that alleviate poverty among the people.