There is a growing demand from young professionals to be involved in philanthropic activity alongside their careers.
They want to be active and engaged in the issues they care about and want to become part of the newest movements in philanthropy. They want to make risk-taking grants that leverage greater change than the size of their donation, as well as provide not-for-profits with support that not only improves lives but inspires systematic change.
As CAF’s Future Stars of Philanthropy report found, young wealthy donors have found a new style of philanthropy that relies on:
- Leveraging their networks: They are thriving on engagement and coming together to get more from their giving so in future we can expect to see more strength in numbers and more people power
- Tackling the big themes: They care more about the big picture so can expect to see more focus on global and social issues
- Getting stuck in: They are strategic and hands on, which means we can expect more innovation, more experimentation and more long-term relationships with causes and charities, and more focus on leverage.
- Putting their money where their mouths are: younger givers are already giving almost $3,000 more than older givers on average
John Canady, former CAF Director of Philanthropy Services, said: “The new generation of philanthropists want to do more than simply give to causes they care about. They want to see tangible change and use their drive and vision to help make a difference in society.
“There is a real trend towards philanthropists using their entrepreneurial skills to get involved in causes and make sure they make the maximum impact on solving the world’s problems.
“It’s right that people take the time to consider how they can make a difference, so they can become deeply involved in a cause and really help to change the world.”
This group of next generation philanthropists thinks big, thinks hard and thinks together, and they are undoubtedly the drivers of exciting and powerful philanthropy to create genuine and long-lasting social change.