We're one step closer to changing the world! But let's back up for a second. When we started this adventure in 2012, I never imagined our scrappy little team would have an opportunity to disrupt an industry that impacts billions of lives. Now that mindbogglingly ambitious possibility is several steps closer to becoming reality. We've assembled a stellar team of innovators, launched our next set of nonprofit tools, pushed the limit on fundraising performance, partnered with several huge organizations, and now we're announcing funding from some of the most prestigious investors in the world.
Our recent performance data...
- $162 average donation (vs $146 national average)
- $44/mo average recurring gift (vs $19/mo national average)
- 11.7% of all donations are recurring
- 32 second average donation time
As you can see, our approach to digital fundraising is already having a huge impact. We're seeing an 11% increase in single donation amounts and we've more than doubled the size and frequency of recurring gifts. Our team also managed to cut down donation completion time and we have early data indicating that donation drop-off rates have also been reduced significantly. Now we'll be testing our fundraising campaigns and event ticketing features, but I'm very confident these tools will also exceed performance expectations.
Our focus on performance has attracted a lot of attention from larger nonprofits, and I'm excited to announce that we're now working with several organizations whose annual budgets fall into the $15-25 million range. These partnerships are will provide an invaluable opportunity for additional testing, which will allow us to test new ideas and share our findings with the nonprofit community. It's also incredibly validating for our team to see large nonprofits adopting our technology so quickly.
On the business development front, CommitChange has raised significant early-stage investment from some of the world's top investors, including: Mark Cuban, Tim Draper, Adam Draper, and 500 Startups. Their investment is going to significantly increase development speed, which means we'll be able to deliver our next set of powerful fundraising tools way ahead of schedule. These investors also bring a wealth of experience and huge networks to our company.
We're also officially announcing that Chris Sinton, founder of Network for Good, has joined CommitChange as an active advisor. Chris brings a wealth of experience in both the nonprofit and technology worlds, which is going to give our team a huge advantage as we continue to develop and deploy new nonprofit technology. Chris is also one of the founding fathers of modern ecommerce and a well known internet trailblazer.
Last but not least, I'm thrilled to announce that CommitChange has acquired Connect for a Cause, a nonprofit fundraising platform based in New Orleans. We decided to bring their founder, Jason Nicosia, onboard as our Chief Marketing Officer and he's already an invaluable member of our team. This acquisition is going to dramatically increase our company's traction.
Now where are we going in Q3-4 of 2014? I can't make any announcements yet, but we have stunning technology in the pipeline that's going to fundamentally change the way nonprofits raise money both online and offline. We're also exploring ways to reduce or eliminate transaction fees for nonprofits, which could potentially return over $250 million to nonprofits in the United States.
Welcome to CommitChange! This is how we're changing the world.