Philanthropy has become an increasingly important aspect of economic development, yet age differences and social characteristics often drive donor behavior. Generational differences in giving behavior are based on donors’ altruistic motivations and their concern for social, political, and economic stability. These differences manifest in donors’ attitudes toward giving, their preferred mode of donating, and their target recipients. Moreover, understanding the motivations behind philanthropy, and the key social characteristics of donors, is essential to understanding what drives differences in giving behavior. To successfully steward donor relations with the different generations, we must learn what is important to them and how they prefer to receive information. Donor engagement plans should look different for each targeted generation.
Baby Boomers (born 1946-1964):
- Giving Behavior: Baby Boomers are known for their philanthropic contributions and are active donors. They prefer to give to well-established, larger organizations.
- Key Social Characteristics: They often value social responsibility and are motivated by personal connections to causes.
Generation X (born 1965-1980):
- Giving Behavior: Gen Xers are tech-savvy and inclined to give online. They appreciate transparency and the impact of their donations.
- Key Social Characteristics: They tend to be independent and value efficiency in their philanthropic efforts.
Millennials (born 1981-1996):
- Giving Behavior: Millennials are more likely to support smaller, grassroots organizations and are drawn to crowdfunding and peer-to-peer fundraising.
- Key Social Characteristics: They seek meaningful engagement with causes, often through volunteering, and value social impact.
Generation Z (born after 1996):
- Giving Behavior: Gen Z is early in their giving journey, but they are highly digital and socially conscious, often leveraging social media for fundraising.
- Key Social Characteristics: They are the most diverse generation and are driven by social justice and environmental causes.
Resources:
Shaker, Genevieve G., Eugene R. Tempel, Sarah K. Nathan and Bill Stanczynkiewicz. 2022. Achieving Excellence in Fundraising, 5th edition. Hoboken, NJ: John Wiley & Sons.
