We’re not getting any younger! For nonprofits dependant on private donations for support, age is more than just a number since for most of us, charitable contributions grow with age.
Those of us born before 1945 (aka The Greatest Generation) donate an average of $1,066 to 6.3 charities compared to the average Gen Y donation of $341 to 3.6 charities, according to a study done by Convio and Edge Research.
Where will Millennials land when it comes to philanthropy?
I posed the question to one of my colleagues. “I watch what my kids do,” she told me. Most of their philanthropy is workplace-centered. An employer promotes a community event (think walk-a-thons and runs). They form teams and invite friends. They volunteer. It’s a social connection.
According to a trend report conducted by Pew Research Center, Millennials (the generation of teens and twenty-somethings) are confident, connected and open to change…and a sought-after group given their lifetime giving potential!
Which generation are you?