Philanthropy is constantly evolving, and in order to keep up with the changes, people need to be willing to change as well. Generational wealth is developing more and more these days, and with that comes the ability to input that wealth into positive change. As a result, more and more charities are popping up, and more and more people are needing help. With the world experiencing changes in its environment, population, and the health and well-being of others, there is no better time than now to get involved with being of assistance. It has been previously assumed that older generations are the bulk of donating, but the next generation is actually taking philanthropy into their own hands and changing the way it works. Below we will take a look at some of the different ways the next generation is reshaping philanthropy.
- Transparency Has Increased
The next generation has grown up in a world where they have constant access to information right at their fingertips. This leaves no room for businesses and nonprofits to be shady about how they use their resources and get the job done. They are now expected to explain where the funding has gone and why to establish a proper feeling of trust between themselves and their donors.
The next generation is known for being a demographic that prides itself on tolerance and inclusivity. We have seen them fight for change on various topics that were previously seen as hush-hush to older generations. Along with this, they want to support organizations with the same values and put them into action. The next generation is very attracted to organizations that immerse themselves in the fight for justice and equality for all.
- Smart Communication
In the past, we have seen many organizations accept snail-mail deliveries for funds and resources and prioritize in-person methods of giving back. However, the world has almost fully adapted to the inevitable need for technology in all industries. Social media and online donation platforms have been a massive benefit to organizations, as they can reach more people and receive money from anyone who would like to be involved with the cause. There is also the ability for anonymous donors to participate without drawing attention to themselves, so big names and others can contribute without being in the public light.