CEO Corner: Q3 Brings Economic Tailwinds, Sector Growth, and Returned Momentum

Created By: CJ Orr
Updated September 30, 2025

From what we’ve been seeing with our client partners, Q3 brought a welcome shift. Campaigns that had slowed earlier in the year picked up steam, boards began planning ahead with more confidence, and donors, especially major givers, leaned back in. This shift has not been without its challenges; ongoing uncertainty with federal funding still weighs heavily. Public funding cuts, a cooling job market, and persistent inflation continue to shape the backdrop. Even so, the overall picture and tone of the philanthropic sector is constructive, particularly for organizations focused on major gifts and campaign planning.

In short, conditions are aligning for nonprofits to move boldly into year-end and beyond.

1. Economic Update

• Markets reached record highs. U.S. equities set fresh all‑time highs into quarter‑end, supported by easing‑rate expectations and resilient household spending.
• Growth is strong, and inflation hovered around 3%. Economic growth and consumer outlays remained solid through Q3, while inflation continued to moderate from 2023 levels.
• The labor market softened a bit but remained resilient. Hiring slowed from last year’s pace, and wage gains are normalizing, but overall employment remains healthy.

What this means for fundraising: Record equity values and steady growth typically lift major‑gift capacity, via the wealth effect, appreciated assets, and donor confidence. For many institutions, Q3 has set up a favorable runway for year‑end solicitations and early campaign lead‑gift conversations.

2. Sector Update: Philanthropy’s Center of Gravity Is (Still) Major Gifts, Making Now a Prime Campaign Window

Across our client work, major gifts continue to drive the strongest fundraising results. Campaign activity remains high, and many organizations are taking advantage of this window to invest in readiness and move into quiet phases with confidence.

• Giving is growing again. Recent data reinforces what we’ve observed in practice. Total U.S. giving reached a new nominal record of $592 billion in 2024, up 3.3% from 2023 after inflation, with individuals contributing roughly two-thirds of all dollars. Strong markets helped lift giving, and large gifts account for a growing share of total philanthropy even as overall donor counts trend lower.
• Major donors are driving gains. Across benchmarks, dollars are up even as donor counts trend lower, with large gifts carrying more of the load. We see this on the ground as more organizations revisit their major gift strategy and pipeline.
• DAFs remain a powerful philanthropic engine. Donor‑advised funds continue to channel significant dollars into the field and play a central role in many major and planned gifts.
• Policy uncertainty creates both volatility and opportunity. Public funding challenges and ongoing tax policy debates are prompting donors and nonprofits to plan more strategically, particularly around appreciated assets, blended gifts, and bequests.
• The wealth‑transfer super‑cycle. All of this is unfolding against the backdrop of the largest intergenerational wealth transfer in history. Over the next two decades, an estimated $84 trillion is expected to pass between generations, with a substantial share directed to philanthropy, another reason major and planned gifts are poised for sustained growth.

The bottom line is clear. With markets strong, donors well-positioned, and organizations adapting to public funding headwinds, momentum around major gifts and campaigns continues to build. We’re seeing more organizations invest in campaign readiness, undertake feasibility work, and strengthen their major gift strategies.

3. Orr Group Update

• Momentum continued to build through Q3. We welcomed more than 30 new client partners over the past several months. We’re seeing especially strong demand for help with revenue diversification, major and planned giving acceleration, campaign strategy, and AI‑enabled fundraising.
• Our team is continuing to grow. We’ve recently welcomed three new members to our team: Gretchen Ehle, Niall Keane, and Jesse Bryan, each already contributing to client engagements. Additional team members will join Q4, with announcements coming soon.
• Campaign demand is on the rise. We have seen an increase in requests for feasibility studies, case development, lead gift strategy, and portfolio design, a clear reflection of the sector’s continued focus on larger gifts and long-term growth.

Looking ahead, the next 90 days will be pivotal. For nonprofits considering a 2026 campaign launch, now is the time to refine your case for support, deepen early donor conversations, and ensure your internal capacity is ready to move when the moment comes.

CJ Orr
CEO, Orr Group

CJ Orr is the Chief Executive Officer of Orr Group. As an expert project and relationship manager with 10+ years of experience in the sector, CJ utilizes data, technology, and financially-backed trends to execute on the development of strategies and tactics to drive effective fundraising plans that meet or exceed targets.