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Wealthy Donors Differ by Generation

Monday, April 6, 2015   (0 Comments)
Posted by: Buffy Beaudoin-Schwartz
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February 22, 2015

Dallas Morning News

Several factors distinguish younger donors from their parents and grandparents, said Goldseker, managing director of 21/64, a New York consulting firm that helps families bring future generations into philanthropy:

Being flexible:Younger donors want to support a cause, rather than an institution.

"They look not only to nonprofits, but to individuals and for-profit companies that tackle issues they’re passionate about,” Goldseker said.

Taking advantage of the present:Younger donors get involved in efforts where their help can be used today, which is different from older donors, who waited longer and focused more on their legacies when they gave money.

Rolling up their sleeves:Younger givers go beyond financial gifts to get personally involved in an organization.

"They want close relationships with the causes they support, and they want to offer their own support to solve a problem,” Goldseker said.

Networking:Younger generations share knowledge about philanthropy with their peers in a way their parents and grandparents never did, thanks to social media and other tools.

The next generation of donors are "driven by values, not valuables,” according to a Next Gen Donors research project conducted by 21/64 and the Dorothy A. Johnson Center for Philanthropy.

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