The Great Transfer of Wealth: How to Reach The Next Generation of Donors
With $50 trillion set to change hands in North America by 2050, the largest generational transfer of wealth is upon us. Millennials are projected to hold five times as much wealth in the next decade as they do now. This will significantly change the landscape of giving. Nonprofit organizations can proactively prepare for this shift by cultivating better relationships with the younger generations – Millennials and Generation Z. Millennials have surpassed other generations in their population size and generosity mindset. This signals the rise of micro-philanthropy, where more frequent smaller donations match the occasional larger donations. In this session, we will discuss the trends that highlight current generational shifts in giving behaviours and how this directly impacts your nonprofit organization. You will learn how to implement key donor cultivation and fundraising strategies to attract and retain younger donors.