Donor Giving Trends for Today and Tomorrow, Part 1
However, the outlook is not as bright with Generation X. Gen X has far fewer people than the boomer demographic, meaning there will be fewer donors to work with once Gen Xers transition to matures. That's led to a bit of economic panic as this smaller workforce today is asked to deliver the prosperity and productivity of the much larger baby boomer generation before it, plus sustain Medicare and Social Security benefits as boomers retire, Hoyt said. That has put pressure on them financially as well.
Further, a lot of Gen Xers are not married, and there's more diversity in this demographic. These donors expect to be involved more in an organization's work and want to know what their dollars accomplish perhaps even more than boomers, who expect the same. Thus, communicating with Gen X might take an attitude adjustment on the part of fundraisers.
The good news is that Generation Y is coming right behind that to pick up the slack, with 70 million people currently making up this demographic. Gen Yers are 33 and younger right now. In approximately seven years, they'll start hitting their higher earning years as they enter their late 30s and 40s.
Just like Generation X, many Gen Yers are not married and there's even more diversity. But this is a crop that has tremendous giving potential for the future, so it's vital to start engaging Generation Y now.
What does this all mean?
Given these demographic characteristics, it means the immediate future looks bright for fundraisers. There is a large group of baby boomers primed to give coming of age right now. That's the good news.
The bad news is that after that, there will be slimmer pickings when Generation X takes over, which in turn could mean some difficult and lean fundraising years. But help is on the way with Generation Y with its 70 million charity-conscious inhabitants.
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