Gen-Z and Millennials are bringing a new game in the world of philanthropy. During the pandemic, the two generations took care of their families and friends by providing financial support. The younger generation of philanthropists is more social media-oriented. They maximize the online platform through crowdfunding, creating awareness, reaching the masses, and attracting more donors. Within their spirit of giving, they seek deeper connections and quantifiable outcomes regarding philanthropy. Once one can unravel the mystery surrounding the next-gen philanthropists’ potential, they benefit from well-chiseled relationships that can elevate their non-profit organizations a notch higher. Let’s delve into the key trends shaping the next generation of philanthropy.
Relationships matter
The younger philanthropists are more hands-on and want to be involved in various activities they are supporting. They want to play a significant role other than the repetitive donations they provide for a specific cause. The next-gen philanthropists wish to feel part of the organization and the cause they support. As a result, they need to develop deeper relationships with the organizations they support. Whether donating their time or money, the younger generation wants to be fully engaged. They share their experiences with the outside world through various online platforms, helping the non-profit organization create awareness about its cause and direction.
Transparency
The younger generation of philanthropists looks for quantifiable elements, seeing their direct impact on the organization. As a result, they value transparency in the search for measurable results. They want to be in line with the organization, and they, therefore, share their knowledge on issues that they are passionate about with the organization. Transparency and communication are critical elements for those seeking the next-gen donors’ attention. The next-gen philanthropists work with educational programs that enlighten the organization’s members and donors to ensure they are at par.
Honor the past while they look to the future
As much as the younger generation philanthropists appreciate their older generation philanthropic legacies, they still look for engaging and impactful solutions to philanthropy. They are open to new and improved perspectives of handling charity. The non-profit organizations need to ensure that the young donors can quickly get involved in the organization’s happening. They should have a straightforward narrative of expectations and cause supported.
Final thoughts
The younger generation philanthropists are taking donations to a different level. It is about dishing funds to organizations and being part of the entire process. Their hands-on approach is more impactful, making the financial support worthier.