Empowering the Future: Female Millennial Donors in Philanthropy
Chris Snyder, PhD
Dynamic C-level leader who drives organizational transformation and revenue growth | Fundraising Campaign Management | Community Engagement | Board Governance | Strategic Partnerships | High-Performance Teams
In the ever-evolving landscape of philanthropy, one group is making a remarkable impact – female millennial donors. Research from the Women's Philanthropy Institute at Indiana University-Purdue University has shown that women generally tend to give to more charitable causes and organizations than men. What's more, households led by women give a significant 57% more than those led by single men. These findings underscore the growing influence of female millennial donors in reshaping the world of philanthropy.
The Heartfelt Generosity:
Millennial women are distinct in their philanthropic approach. They are motivated by a profound desire to make a meaningful difference in the world. Unlike traditional donors, they lead with their hearts and emphasize a communal approach to giving. Their generosity is driven by the belief that collective action can bring about transformative change, and they are eager to be part of this movement.
The Untapped Potential:
Despite the immense potential of female millennial donors, many charitable organizations and global nonprofit leaders have yet to develop robust engagement programs tailored to this demographic. This oversight is surprising, considering the changing dynamics of global families. Women are now living longer than men, often inheriting double inheritances – first from their parents and then again if they outlive their spouse. This shift in demographics necessitates a change in strategy to engage this demographic effectively.
Adapting to Changing Roles:
The roles of women within households have evolved significantly. Changes in marriage and gender roles have challenged traditional assumptions about donors. Therefore, focusing on millennial females and their immense giving potential is imperative. As evidenced by IUPUI Women's Philanthropy Institute figures, the shifting landscape demonstrates the need for tailored strategies.
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Harnessing the Potential:
Fidelity's research has reinforced the giving power of female donors. Their study of female donors who itemized their charitable contributions on tax returns found that female-headed households consistently outperformed male-headed households in charitable giving. Notably, women gave twice as much at nearly every income level as men. Moreover, with millennial women expected to inherit 70% of the wealth transfer, the urgency to develop comprehensive engagement strategies cannot be overstated.
Conclusion:
The future of philanthropy lies in the hands of female millennial donors, who bring passion, purpose, and unparalleled generosity to the table. It is imperative for global leaders and nonprofits to recognize and harness their potential. By creating tailored programs, building connections, and embracing the changing dynamics of giving, we can empower these remarkable women to drive positive change on a global scale. Together, we can build a more compassionate, equitable, and sustainable future for all.
#Philanthropy #FemaleMillennialDonors #SocialChange #Empowerment
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Development Coordinator, AGH-FVM Foundation
8 个月Great read, thank you for this! "Notably, women gave twice as much as men at nearly every income level as men"- very powerful statement, indeed.
??Often found talking about fulfilling giving | Trust-Based Philanthropy Fan
11 个月"Notably, women gave twice as much at nearly every income level as men." - That is so powerful.<3 Great collection of valuable data. Thanks, Chris!
Director of Community Outreach & Development
11 个月I think this is excellent perspective, well done!
Executive Director at Eda and Cliff Viner Community Scholars Foundation
11 个月Wow, very interesting and surprising. I would have predicted men give more because they still earn more. However, I guess women living longer can offset this imbalance among other factors. ?? What's happening with men, this too.