Philanthropy is often perceived as the domain of the wealthy or older adults, but it’s increasingly becoming a space for everyone, including young adults from various income levels. At The Foundation for Delaware County, we collaborate with individuals across generations to foster a more inclusive approach to giving.
Today’s younger generations, particularly Millennials and Generation Z, are reshaping the landscape of community involvement. According to research, these cohorts prioritize issues over specific organizations, embracing technology to engage with causes via social media and online donations. A 2024 study further suggests that their civic participation is deeply linked to both volunteering and donating.
If you are part of a family with young adults or are a young adult yourself, The Foundation for Delaware County offers guidance. Consider these three strategies:
1. Make it a Family Affair.
Engaging in philanthropy as a family can be a powerful educational experience that also strengthens family ties. Older family members can demonstrate generosity by involving younger ones in decision-making processes, such as researching nonprofits or participating in family foundation discussions. This approach leverages the wisdom of older generations and the fresh perspectives of younger ones. Traditions like annual volunteer days or nonprofit visits foster shared experiences, teaching that philanthropy is about sustained community engagement.
The Foundation for Delaware County assists families in crafting giving plans that involve all generations. By coordinating with financial advisors, they help maximize charitable impact through tax-efficient strategies, such as donor-advised funds and strategic use of Qualified Charitable Distributions for older family members.
2. Start with Issues, Not Organizations.
Younger donors often gravitate towards causes rather than specific charities. Encourage them to identify issues they are passionate about, such as climate change or social justice, and then guide them in researching organizations that effectively address these challenges. This approach helps them form a personal philanthropic identity, independent of traditional family loyalties, and connects their values to their giving.
3. Combine Giving with Active Engagement.
Young donors seek a more hands-on approach, wanting to volunteer in addition to making financial contributions. Leadership roles on nonprofit boards and committees not only demonstrate trust in their abilities but also offer professional development opportunities. The Foundation for Delaware County facilitates connections to peer networks and supports initiatives like “giving circles,” where donors pool resources to amplify their impact. These circles provide practical learning experiences, supported by the Foundation’s resources on grantmaking and nonprofit leadership.
The Foundation for Delaware County is dedicated to being a resource for those looking to develop their charitable strategies and achieve community impact. This information is intended for educational purposes only and should not be considered legal or financial advice. Consult with a tax or legal advisor to understand how these strategies may apply to your situation.
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