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| Opportunities & Exposures: Philanthropy |
Not Your Grandfather’s Philanthropy
Neil Howe
10/01/2005
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Xers, on the other hand, are entrepreneurial. They
would offer scholarships for people in those countries to study in the United
States who would then later apply their knowledge in their communities. For
them, this approach achieves better results at a lower cost. This explains a
November 2003 study by Richard Steinberg and Mark Wilhelm, which found that Xers
are contributing significantly less at the same age (when compared to other
generations) as a share of their income.
Despite their skepticism, Xers bring
to philanthropy a strong commitment to family. This will fuel a continued growth
in family philanthropy as Xers put their trust in their own family’s ability to
make giving decisions, much more than they would in government or another
entity. With the help of donor-advised funds, this trend should spill over to
the next generation: the Millennials.
Millennials, born after 1982 and just
starting to graduate from college, are volunteering more than any other
generation. Unlike Gen X Millennials are more involved in national causes.
Census Bureau data released in May shows that voter turnout among those under
age 25 jumped 11 points, from 36 percent to 47 percent, between 2000 and 2004.
The increase by the youngest voters, ages 18 to 24, was higher than any other
group, making them a significant and disproportionate factor in the overall rise
in the number of Americans going to the polls.
Their structured and
mission-focused upbringing will spur further changes in nonprofit activity. For
large charities, the good news is that Millennials will have more faith in them
and a renewed trust in government. In the meantime, however, these groups will
need to confront the challenges posed by Gen X’s skeptical approach toward
formal philanthropy. | Neil Howe is an economist, historian, demographer and authority on
generations in America. |
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