Most organizations are unprepared for the significant changes the intergenerational wealth transfer will bring to. A change in donor demographics has implications that many nonprofit organizations have not considered. There are key challenges, or disruptors, that stand out:
- The younger-than-boomer generations have very different philanthropic dynamics
- Average current giving will decline
- The decline in revenue will be disproportionately greater than the number of donors lost
- The lion’s share of the wealth will be in the hands of fewer heirs
We’re entering uncharted territory, and with these new dynamics, planned giving must provide enough revenue to offset current giving shortfalls.
Read the article to discover what you can do to ensure your organization can meet current budget and long term goals as donor demographics continue to change.