The future of philanthropy is about engaging the next generation of donors, known as Gen Z and Millennials. This will help ensure that your organization’s long-term sustainability is supported.
The generation known as Gen Z is the largest and most diverse group in US history. It comprises young adults and teenagers who are tech-savvy, independent, and passionate about philanthropy. How can organizations and individuals welcome this powerful new generation?
Finding Ways to Give Online
These days, more adults have smartphones than not. This means they are more likely to research an organization’s mission and values online before making a financial commitment. Nonprofits can capitalize on this opportunity by developing a strategy that focuses on building long-term relationships with their donors.
In other words, nonprofits are becoming easier to find online. Their online presence is stronger than ever, accepting virtual donations and providing virtual volunteer opportunities. More importantly, their missions are readily available on websites, making their goals clear and easy to understand.
A New Focus
Gen Z and Millennials are more likely to give to organizations they are passionate about, and they are looking for hands-on involvement and regular updates on the progress of their donations. They also want to feel like they are part of the decision-making process. They prefer to be involved in the organization’s operations and are more likely to develop strong relationships with the staff and volunteers.
Younger generations also demand that organizations provide them with transparency regarding their donations. This generation wants to see how their contributions affect the organization’s operations. They grew up watching companies try to hide behind obfuscation tactics and want none of it.
Values in the Workplace
Millennials and younger are seeking job opportunities that make them feel like they are making a difference. Gone are the days when employees were willing to work for soulless corporations. Nowadays, the younger generations are demanding their workplace to be involved in charitable organizations and giving.
Likewise, people are showing that they are more likely to support a business that shares their beliefs. Companies are learning to be more open about the organizations they support.