The volume of funds, foundations and other giving among young Americans from high-net-worth families is expanding to unprecedented levels, according to a report released in February by the Johnson Center for Philanthropy and non-profit consulting group 21/64.
Next Gen Donors [1] says that although more $40 trillion will be inherited over the first half of this century, with much of it destined for charitable giving, little is known about young philanthropists and what motivates them. Although they do not want to re-write the rulebook on philanthropy, key trends are evident from the report’s survey of 310 21-40 year olds in the US, it states.
The report finds that the next generation of major donors are:
“The next generations of major philanthropists, those who fit into “Gen X” (born 1964-1980) or “Gen Y/Millenial” (born 1981-2000) generational cohorts, will have tremendous influence on the direction of and support for efforts to improve local communities and solve global problems over the next several decades,” the report states.
Richard Harrison, head of research at the Charities Aid Foundation (CAF) said that the main thrust of the report matched the findings of CAF's research for The Future Stars of Philanthropy [2]. He told Philanthropy Impact: "This generation has a degree of ambition in their giving and want to be within touching distance of their impact."
Links
[1] http://www.philanthropy-impact.org/report/next-gen-donors-respecting-legacy-revolutionizing-philanthropy-2013-0
[2] http://www.philanthropy-impact.org/report/future-stars-philanthropy-2012
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