Probably not surprising, but according to a study by Blackbaud, baby boomers and their parents accounted for 70% of total giving in the U.S. last year. Boomers on average supported 4.5 charities with annual giving of $1,212, which represented 43% of total U.S. giving. By comparison, boomers’ parents (Matures age 68+) on average supported 6.2 charities with annual giving of $1,367, which represented 26% of total U.S. giving.
Boomers will continue to exert influence on charitable giving for the foreseeable future as they represent one third of all adults who give. With the youngest boomers just turning 50, there is an expectation this generation will continue to be the largest group of givers well into the future.
Gen X (born 1965–1980) donors represent 20% of total giving with 3.9 charities supported on average annual giving of $732. And finally, Gen Y (born 1981–1995) donors represent 11% of total giving with 3.3 charities supported on an average annual giving of $481. These two groups now represent 31% of total giving and, based on the research, are the most likely of the groups to increase giving in the coming year.
Interestingly, places of worship are the most likely recipients of giving among all the groups, with the exception of Gen Y. donors, who give the most to children’s charities.
So with baby boomers still the most likely donors, what are you doing to attract and retain these donors while at the same time cultivating relationships, causes, and methods for giving with the Gen X and Gen Y donors?