My most favourite benchmark report was published at the end of April—and as always, there is an abundance of data which leads me to some good, actionable insights.
The 2026 M+R Benchmarks Study paints a clear picture of a sector shaped by crisis, resilience, and rapid adaptation. Across channels, supporters (especially in the US) showed up in significant ways in 2025—often in response to funding cuts and threats to the causes they care about. For fundraisers planning the rest of 2026, the report offers several concrete signals about where to double down, where to recalibrate, and where emerging opportunities are taking shape.
Below are the key trends from the report and what they suggest for fundraising strategy in the months ahead.
1. Online Revenue Growth Was Broad—and Crisis-Driven
Average online revenue increased by 15% in 2025, with nearly every sector seeing double-digit growth. Two sectors stood out in particular:- Public Media nonprofits saw average online revenue increase by 37%
- Hunger/Poverty nonprofits also saw 37% average growth
2. Year-End Giving Continues to Dominate the Calendar
Timing remains one of the most important strategic variables. In 2025:- 37% of all online revenue was raised in December
- The last week of the year accounted for 10% of annual online revenue
- The final day alone accounted for 4% of the year's total
3. Email Remains a Growth Channel—Even at Scale
Now this one surprised me, I must admit. But…the report found that email fundraising continued to grow in 2025, despite being a mature channel:- Email revenue increased by 16% on average
- Email accounted for 11% of total online revenue
- Nonprofits raised an average of $2.40 per email subscriber, up from $1.87 the previous year
4. Monthly and One-Time Giving Both Grew, but Retention Still Matters
In 2025:- Revenue from one-time online gifts increased by 17%
- Monthly giving revenue increased by 12%
- Monthly giving made up 27% of total online revenue
5. Direct Mail Is Still Pulling Its Weight
Despite digital growth, direct mail remained a major revenue contributor:- Direct mail revenue increased by 9%
- For every $1 raised online, nonprofits raised an average of $0.66 through direct mail
- Mailings to active donors delivered an average ROI of $4.51
6. Investment in Digital Advertising Is Increasing
Nonprofits reinvested aggressively in digital advertising in 2025:- Digital ad spend increased by 18% on average
- Organizations invested $0.10 in ads for every dollar raised online
- 58% of ad spend went directly to fundraising, with the remainder focused on brand and lead generation