Everyone dreams of becoming a philanthropist. The next generation of philanthropists influences how people think about and act on their charitable donations. With the help of technology and global connectivity, the next generation of donors is more mobile, more digitally savvy, and more focused on impact than previous generations.
Ways in which the Next Generation Is Changing Philanthropy
1. Redefining what it means to be an upper-class member.
The next generation is rejecting the idea that they need to have significant wealth to be able to give back or that they should wait until they’re wealthy before they can contribute.
They also reject traditional notions of philanthropy and instead view giving back as an integral part of their everyday life.
2. Crowdfunding Their Giving
They are leading a movement to change how giving happens in society by crowdfunding charitable projects. This means that they turn to the internet and other social media platforms to raise money for their causes. It also means that these young people use their creativity and passion to launch innovative campaigns that show their personalities.
3. Impact Investing
They want their money to make a measurable impact on society for future generations, and they’re going about it differently from previous generations.
This is called impact investing. As an alternative to more traditional investments like stocks, bonds, or real estate, they are putting their money into socially-responsible companies that make positive changes in society.
4. Driving Charitable Giving
They donate through social media channels like GoFundMe, crowdfunding sites like Indiegogo or Kickstarter, nonprofits like GiveForward, and donating times through their smartwatches.
5. Changing How Philanthropy Is Funded
The research organizations are based on how much good they do and how those organizations benefit people in need worldwide. The next generation is rapidly changing how charitable giving works, especially what causes deserve funding and which groups should receive it.
The next generation of donors is reshaping philanthropy, and these changes have the power to transform the way nonprofits do business. The next generation of donors is more mobile and more digitally savvy, making it easy to give to causes they care about most. Nonprofits can also take advantage of this by creating mobile-friendly websites and social media platforms. This will help nonprofits connect with the next generation of donors, but it will also increase their impact on society.