Study Uncovers Next Gen Giving Perspectives as the Great Wealth Transfer Looms

The National Christian Foundation (NCF) released a report on next generation giving ahead of what has been dubbed the "Great Wealth Transfer" of $124 trillion in coming years. The Next Gen Stewardship study covers Christian Millennials' perception of wealth, stewardship, and their faith. The study also examines the phenomenal surge of Millennial wealth quadrupling in just five years (2019-2024).

"The greatest transfer of wealth in history is happening now," said Kendra VanderMeulen, CEO of National Christian Foundation. "The next generation of stewards is embracing generosity like never before, getting personally engaged in it, putting not just their money where their hearts are, but also giving time, influence, and skills. It's critical that we're prepared for this historic wealth shift, not only with tools and solutions, but with Christ-centered wisdom and innovative strategies. As a mother and grandmother, I've seen firsthand how biblical generosity can make relationships, lives, and communities better, as we come to an understanding of God's ownership of everything."

Key research findings

• These next-generation "stewards" — someone who has either created, inherited, or been entrusted with wealth — believe similarly to the current generation of stewards (those 45 years or older) that their wealth belongs to God, but only 60% of Millennials feel called to give in the same way as their parents.
• Over 86% of the next generation of Christian stewards reported they want to support groups and charities that make an impact for the better on the communities they live in.
• More than three-quarters, or 72%, prefer to work directly with charities to use their talents for greater impact.
• More than one-third of next-gen stewards who have not created wealth but stand to inherit it reported feeling "uninformed." This demographic reported feeling more burdened and overwhelmed by the prospect of wealth management than those who had contributed to wealth creation.
• Overwhelmingly, 96% of Next Gen Women feel a great sense of responsibility related to wealth, and 74% feel a deep burden to steward it wisely. Yet 39% of Next Gen Women feel they have no voice in decision-making about family wealth and often feel left out of financial conversations.

"There are some important differences between the Christian philanthropic culture of today and the one that might form as the Great Wealth Transfer continues, but faith— as the foundation for giving — remains emphatically and joyfully the same," said Christin Fejevary, VP of Brand and Customer Experience at National Christian Foundation. "Our research also revealed that there are some uneasy feelings about the current transfer of stewardship, particularly for women and heirs with no history of managing wealth or giving. It's important to ensure that everyone who stands to be or become a steward of their family's wealth feels they have a voice, and that they feel prepared and empowered to answer God's call."

Access the "Next Gen Stewardship: Perspectives on wealth and giving" report here.

Source: National Christian Foundation

The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within may not directly reflect the thoughts or opinions of the staff of NonProfit PRO.