The next generations of major philanthropists, who fit into “Gen X” (born 1964-1980) or “Gen Y/Millennial” (born 1981-2000) generational cohorts, will wield more philanthropic power than any previous generation. With an unprecedented amount of wealth, these donors hold the future of philanthropy in their hands, yet, until now, there has been little previous research on the powerful but very private group of young people who stand to become the major donors of the future
Conducted in 2012, this report is based on first-of-its kind data, listening to members of the next generations of major donors, ages 21 to 40, in their own voices. A national online survey (310 total responses) and in-depth interviews (30 total) have revealed four key findings, outlined in the key findings area of this website.
What we have found should help us all be less afraid as this generation takes the reins. They take their roles as major donors seriously. And as they grow into these roles, they are also eager to be taken seriously.
A new report from Grand Valley State University’s Johnson Center for Philanthropy and 21/64 provides a first-of-a-kind study on the habits of next-generation donors, who will inherit an unprecedented $40 trillion and are poised to be the most significant philanthropists in history.
The report, called Next Gen Donors, looks at how the major donors of the future are approaching their giving and how it differs — and remains the same — from their parents and grandparents.
The report is the most comprehensive of its kind, drawing from 310 surveys from high-capacity young donors and 30 in-depth individual interviews. Young donors represent the future of philanthropy, but up until now, very little has been known about who the next generation of donors are and what they are interested in.
Through analysis of the survey responses and dozens of candid statements direct from next-generation donors, the report reveals:
“Until now, there has been little research on this small but influential cohort of young people who hold the future of major philanthropy in their hands,” said Michael Moody, Frey Foundation Chair for Family Philanthropy at the Dorothy A. Johnson Center for Philanthropy. “This study helps us move beyond our preconceptions about next-gen donors, and shows – somewhat surprisingly – that they have some strong similarities to previous generations of donors, even while clearly wanting to make big changes in how philanthropy is done.”
Several next-generation donors and the authors of the report will take part in a conference call for reporters on Wednesday, January 30, at 1 p.m. EST. The call will include Michael Moody, Frey Foundation Chair for Family Foundations and Philanthropy at the Johnson Center; Sharna Goldseker, managing director of 21/64, a nonprofit consulting practice specializing in next-generation and multi-generational strategic philanthropy; and several next-generation donors, including Katherine Lorenz, president of the Cynthia and George Mitchell Foundation.
The Dorothy A. Johnson Center for Philanthropy is an academic center focused on increasing the efficiency and effectiveness of the charitable sector. Their work involves conducting research, teaching effective practices, and providing pathways to service. They work extensively in West Michigan and throughout the state of Michigan, nationally and internationally.
They make a difference by enhancing the impact of foundations nationally and nonprofit organizations regionally, improving the quality of community decision-making with community members in West Michigan, and encouraging a habit of civic engagement among students, staff, and faculty at GVSU.
For more information, visit johnsoncenter.org or contact Michael Moody, (616) 331-7585.