What are the philanthropic motivations of #NGD?
January 28, 2013
A new US study published by 21/64 and the Dorothy A. Johnson Center for Philanthropy, sheds light on the philanthropic motivations of next generation major donors, those who fit into “Gen X” (born 1964-1980) or “Gen Y/Millennial” (born 1981-2000) generational cohorts. The study, called #NextGenDonors: Respecting Legacy, Revolutionizing Philanthropy, features the following highlights:
- Driven by values not valuables: Mindful of the privilege they have inherited, these donors seek a balance between honoring family legacy and assessing the needs and tools of the day. They will continue to fund causes supported by their families, but only if it fits with their personal values.
- Impact first: These next generation major donors highlight the importance of strategy for the future of the field. They see philanthropic “strategy” as the major distinguishing factor between themselves and previous generations.
- Time, talent, treasure, and ties: Once engaged, these donors want to go “all in.” Giving without significant, hands-on engagement feels to them like a hollow investment with little assurance of impact.
- Crafting their philanthropic identities: As much as they discuss what and how they think about philanthropy and what they definitely want to do when they take over, these major donors are still figuring out who they will be as donors.