Purpose Driven Giving Trends: Attracting Younger Donors – Callie Wayt
Much has been said about “the next generation,” with each generation having reservations about the generation to come. Stereotypes abound, with Baby Boomers rolling their eyes at Millennials’ entitlement, while Millennials whisper about Boomers’ struggling with technology.
There is some truth to the stereotypes based on each generation’s experience with world events, economic trends, and cultural norms. Specifically, each generations views towards philanthropy are greatly affected by their experiences. Millennials and Generation Z are changing the way they approach giving and generosity. They are motivated to give based on impact and results. They want to see the numbers. They want to hear the impact.
We’re talking about a generation that was raised on sustainable fashion, social enterprises, and corporate responsibility. Look at Patagonia, the founder, his spouse and their two adult children are giving away their ownership interest in the company and dedicating all profits to projects and organizations that will protect land and biodiversity and fight the climate change crisis. The privately held company’s stock will now be owned by a climate-focused trust and that “every dollar not reinvested back into Patagonia will be distributed as dividends to protect the planet.”
This generation is values-aligned. They want to work for an organization that has purpose and meaning, and they want to give to organizations that are impacting the world and creating change. They gravitate towards brands like Patagonia, Able Clothing, even the “original” social enterprise Tom’s Shoes with their buy a shoe, give a shoe model. They’re inspired to give to organizations like Feeding America, Habitat for Humanity and Compassion International; organizations with boots on the ground, showing demonstrable change and tangible impact.
Millennials and Generation Z often see their philanthropy as a central part of their identity. They quickly mobilize to support the causes they believe in and are motivated by that visual impact. Do you remember the ALS Ice Bucket Challenge that went viral in 2014? People challenged their friends to pour a bucket of ice water over their heads and give money to ALS research. Through the power of social media, digital giving platforms, and peer-to-peer fundraising over $115 million was raised in that viral challenge.
That challenge capitalized on probably the most substantial difference in generational giving: Millennials and Gen Z want to give digitally. In a survey done by Qgiv, 29.9% of Millennials wanted to give via text or app, while the next group at 23% preferred to give online.
As a nonprofit, one of the greatest challenges is gaining the interest of younger donors. You want to engage them in the work you are doing, showcasing the impact. Storytelling is such a key component of drawing in younger donors. They want to see the faces of the people you work with. They want to hear their stories and they want to know how their donation has brought about meaningful change. Once you have drawn them in it’s important to provide them with a quick and easy opportunity to give digitally. Share the story, share the link to give. It’s truly that simple. Providing links to give on your social media pages, utilizing QR codes, displaying a prominent “donate” button on the main page of your website, and offering text-to-give options are all easy ways to give donors quick access to giving funds to your organization.
NetGiver is an innovative new platform that provides no-fee giving for nonprofits. NetGiver believes that nonprofits shouldn’t just receive a portion of the money they raise but all of the money they raise. Through NetGiver, with the support of Credit Unions, the nonprofit retains everything they get from every donor who gives through the NetGiver App. It’s easy to use, secure, and convenient. The ease of NetGiver and the clear benefit to the nonprofit is what truly sets it apart as a giving platform that appeals to this next generation. It hits all their high points: it increases impact for the organization, is a digital giving option, and with the support of Credit Unions is values-aligned to the mission of these nonprofits.
Credit unions offer the same financial products and services as banks. However, what resonates with so many is that Credit Unions are not-for-profit institutions that distribute their profits back to their members. By design, they are committed to giving back to their community and their members.
Together with NetGiver, Credit Unions offer a meaningful way for people to engage with the nonprofits they love and support. When they give digitally, the full amount of their donation goes directly to the nonprofit, with no hidden fees being taken out of their gift.
NetGiver can be used in conjunction with any other giving options nonprofits currently use. It can augment their current giving channels. Neither the nonprofit nor the donor need to be associated with a credit union to utilize this unique giving opportunity.
There are over 1.5 million nonprofits in the United States. Each one clamoring for the attention of potential donors. The greatest challenge a nonprofit has is setting itself apart and appealing to those who resonate with its mission. It is wise to not disenfranchise any giving group or generation and do your best to cater to all of them.
So while arguably all generations are charitably inclined and driven by purpose and impact, the younger generation is even more so, with the Millennial generation accounting for nearly 75 million people in the United State alone. Of additional importance is that we are currently witnessing one of the largest wealth transfers in history with an estimated $24 trillion being transferred from the baby boomer generation to the younger generation, primarily Millennials. As this wealth is transferred from inheritance, their entrepreneurial enterprises, and income gains, Millennials are becoming the most powerful consumers, investors, and givers. It would be wise of us to acknowledge this shift and continue to orient our strategies and efforts toward this younger generation.
You can give them that feeling with the NetGiver app. Reach out to us today to enjoy the No-Fee experience. NetGiver for Nonprofits — NetGiver | 100% Giving (netgiverapp.com)