By 2061, a new generation of donors is expected to inherit an estimated $59 trillion dollars and to donate almost half of that to charity. Additionally, there are an increasing number of the next generation that has earned their own fortunes at a young age, and have begun stepping up their game in philanthropy.
Authors Sharna Goldseker and Michael Moody published Generation Impact: How Next Gen Donors are Revolutionizing Giving, which includes findings from their research with over 300 young philanthropists. The predominant theme: the Next Generation is focused on seeing the needle actually move and creating concrete results. They are determined to ensure that their philanthropy has a significant impact. And, they are donating not only their money, but also investing their time and talent. In addition to giving through family giving vehicles, many have begun implementing nontraditional vehicles such as crowdfunding and impact investments.
“They are hungry for meaningful connections with peers in similar situations of philanthropic affluence so that they can connect personally, to learn and grow together, and be more effective in their giving.”
