The economic slump and concerns about debt have made a serious dent in giving by Baby Boomers, but that does not mean this cohort does not support philanthropic giving.
Boomers still give, but their giving patters are changing, as are their methods of communication. They constantly reinvent themselves, and fundraisers will have to be aware of this trend.
Speaking during the 2013 National Catholic Development Conference, Larry Meltzer, agency principal and creative director of MM2 Public Relations, said nonprofits should be aware of the following about Boomers:
- 40% of them budget for philanthropy;
- 54% support the same number of causes from year-to-year; and,
- Donors are shifting support from national organizations to local nonprofits.
Meltzer said that Boomers want to feel a personal connection to the mission and goals of the organizations they support and that 75 percent of them report that passing down values and life lessons is more important than passing down an inheritance.
This generation did not grow up on computers and many of them showed initial resistance to them. They approach information differently from other groups.
- Boomers are more educated, and they think more analytically than previous donors;
- There is low donor satisfaction because few nonprofits are meeting Boomers’ needs for information; and,
- 36% of Boomers give more generously to organizations that communicate measureable accomplishments.