The face of philanthropy is changing. With an estimated 59 trillion dollars of inherited wealth passing on to Millennials and Gen Z, philanthropy is no longer the domain of the accomplished and wealthy. The next generation is motivated to share their wealth unlike ever before, seeing a massive need for change in their communities, the nation, and the world. So it’s not just the face of philanthropy that is changing, but it’s very core. Here are some ways the next generation is changing philanthropy.
Seeing impact
One way that the next generation of philanthropists is different is they are dedicated to making change happen quickly. They are not content to throw money at a problem and then bask in the praises. They want to see the impact of their philanthropy. They will visit sites, look at hard data, and even volunteer their own time and expertise to help with a problem in addition to writing a check. This means that organizations must think differently about attracting these new donors who want to participate more in the solutions.
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