Top 30 Peer-to-Peer Fundraising Programs Continue Streak of Year-Over-Year Growth

With the third year of growth since the pandemic halted in-person gatherings, the nonprofit sector’s top peer-to-peer fundraising programs continued their rebound in 2023.

The top 30 U.S. peer-to-peer fundraising programs grew 3.2%, reaching $1.1 billion in collective revenue, according to a study released yesterday by the Peer-to-Peer Professional Forum. The 2023 figure outpaced 2022’s total by about $500,000. In addition, 3.8 million people participated in these programs — a 15.6% increase over 2022.

“Now that mass group activities are considered a normal part of life, the top 30’s growth is also back to normal levels,” David Hessekiel, president of Peer-to-Peer Professional Forum, said in a statement.

However, the tally of the top programs’ revenue in this 18th iteration of the list remains behind 2019’s $1.37 billion total, so there is still more to go to recover from the 33.5% revenue decline in 2020.

Peer-to-peer fundraising consists of nonprofits’ supporters participating in an in-person or virtual activity, including a walk, run, bike ride or other challenge — with each participant collecting donations from their network of friends, family, neighbors and colleagues.

When it came to participants, the top 30 peer-to-peer fundraising programs activated 3.8 million participants — a 15.6% increase for 2023 following 2022’s 58% increase.

“I think we’re seeing the pendulum swing back a little bit and that is the pace,” Marcie Maxwell, managing director of the Peer-to-Peer Professional Forum, said in the opening session of the organization’s signature event yesterday. “We’re getting back to the normal. Hopefully, it’s gonna allow you to budget a little more correctly, a little bit easier and a little bit less stressful.”

That also means that $0 fundraisers have returned to nonprofit peer-to-peer fundraising events. In 2023, the average participant raised $1,043 — $213 less than in 2022, according to Peer-to-Peer Professional Forum data. However, when $0 fundraisers are removed from the data, the trend actually reverses, with 2023’s figure rising to $2,014 — $120 more than 2022’s average.

“We need to see them not as a drag. We need to see them as an opportunity — an opportunity for somebody who was interested enough in our cause to actually attend. And now we have a chance to turn them into a fundraiser.”

Here are some highlights from the top 30 peer-to-peer fundraising programs for 2023.

Largest Peer-to-Peer Events

For the fourth straight year, the American Heart Association’s Heart Walk was named America’s largest peer-to-peer fundraising program with $106 million — $3 million more than in 2022 but still short of its $140 million pre-pandemic total. Prior to the pandemic, this event typically landed at No. 2 behind the American Cancer Society’s Relay for Life, which maintained the same level of revenue and moved up a spot to No. 5 in 2023.

The American Heart Association’s other top event, Kids Heart Challenge, dropped to No. 4 with the Pan-Mass Challenge edging it out for No. 3. Last year, the two were tied for third place, but the latter’s 5.2% growth outpaced the former’s 4% growth in 2023.

Coming in at No. 30, Susan G. Komen’s 3-Day lost 2% of its revenue, dropping it one spot from its No. 29 placement in 2022. However, its $14.4 million sum outpaced last year’s No. 30 program by more than $90,000.

ALSAC, the fundraising arm of St. Jude Children’s Research Hospital, had the biggest turnout with nearly 1.3 million participants for its social fundraising efforts.

In Canada, the top 30 list raised a combined $187.4 million with 22 of the programs experiencing growth. The total revenue grew an additional 8.9% following 2022’s 19.5% growth, showing continued recovery from the pandemic. Leading the Canadian list for 2023 was The Terry Fox Foundation’s Terry Fox Run, which maintained its title as Canada’s largest peer-to-peer fundraising program, raising $25.1 million — a $2.6 million increase, which was the largest among its Canadian counterparts.

Largest Peer-to-Peer Event Growth

Two-thirds of the top 30 U.S. programs experienced growth. The Walk to End Alzheimer’s from the Alzheimer’s Association had the biggest monetary increase with nearly $9.4 million more in revenue. Even though it was not enough to overtake the No. 1 program, this event maintained its second-place slot with milestone year, surpassing $100 million in revenue for the first time.

When it came to percentage of growth, St. Jude Heroes from ALSAC/St. Jude Children’s Research Hospital saw the largest boost with 21.1% more revenue, allowing it to maintain its No. 19 position with $23.3 million.

Meanwhile, Team Vision USA’s Team World Vision had the largest year-over-year participant growth, exceeding 2022 participation with 331.4% growth.

Largest Peer-to-Peer Event Decline

Compared to 2022, when only two U.S. events experienced year-over-year losses, nine events brought in fewer dollars in 2023.

In terms of dollars, the Leukemia & Lymphoma Society’s Light the Night event had the biggest drop with a $6.7 million loss. Despite that, it was able to hold on to its No. 5 ranking. When it came to percentage, Children’s Miracle Network Hospitals’ Dance Marathon had the largest dip in its percentage of revenue with 11.9%, pushing the event down one spot to No. 16.

Relay for Life from the American Cancer Society had 5,000 fewer participants year over year — the most among the top 30 programs. Meanwhile, March of Dimes’ March for Babies saw the biggest dip in the percentage of participants with a 26.2% drop.

Peer-to-Peer Event Newcomers and Returners

Never having been submitted before, the Leukemia & Lymphoma Society debuted two events on this year’s list. Student Visionaries of the Year and Visionaries of the Year ranked No. 9 and No. 10, respectively. Even though they’re newcomers to the list, they would have qualified for last year and landed in the top 10 if submitted.

Making a return to the list for 2023 is Four Diamonds’ Penn State/IFC Panhellenic Dance Marathon aka THON. No. 27 for 2023, the event raised $15 million. Its last appearance on the list was in 2021 when it raised $11.6 million, landing the event at No. 30.

Finally, falling off the list for 2023 were ALS Association’s Walk to Defeat ALS, AIDS/LifeCycle’s signature event and Children’s Miracle Network Hospitals’ Extra Life, which ranked No. 18, No. 22 and No. 30, respectively, in 2022.

"Throughout 2023, numerous leading fundraising initiatives witnessed notable boosts in both participation and revenue,” Marcie Maxwell, managing director of the Peer-to-Peer Professional Forum, said in a statement. “Their success was rooted in a strategic return to the core values of peer-to-peer fundraising: fostering community engagement and nurturing relationships. Meanwhile, they also embraced fresh marketing approaches and cutting-edge technologies, propelling them to connect with previously untapped audiences."