How to Encourage the Next Generation of Philanthropists - And Why We Must

Philanthropy is a cornerstone of societal progress: it drives advancements in education, healthcare, science, economic development, and social justice. It saves lives. Yet, as we look toward the future, the question arises: Who will carry this torch forward? 

The answer is the next generation. Young people today will become tomorrow’s donors—indeed, many already are making their mark on the field. Their involvement in philanthropy is not just desirable but essential for the sustainability of charitable causes. 

The Current State of Philanthropy

Philanthropy is evolving, and with it, the profiles of those who engage in giving. Historically, philanthropy was often associated with ultra-affluent individuals and families who made substantial financial contributions to causes they believed in. However, the landscape is changing as younger generations, particularly Millennials and Generation Z, step into the philanthropic arena.

Recent studies show that younger generations are more likely to prioritize social justice, environmental sustainability, and community impact in their giving decisions. Unlike their predecessors, who may have focused on legacy-building and large-scale donations, these younger philanthropists are keen on direct action and transparency. 

For example, a 2021 survey by Fidelity Charitable revealed that 74% of Millennials self-identify as philanthropists—more than any other generation surveyed, including Gen X and Boomers, at 48% and 35%, respectively. For Millennials, a charity’s effectiveness is one of the most critical factors in donating.

The generational shift in philanthropic priorities underscores the importance of engaging young people in giving. Without their involvement, many causes that have gained momentum in recent years may lose steam as older generations pass the baton.

The Importance of Instilling Philanthropic Values Early

The foundation of philanthropy is built on values such as empathy, responsibility, and a commitment to the greater good. These values are most effectively instilled at a young age through education, family practices, and community involvement.

Building a Culture of Giving

Introducing philanthropic values to children and teenagers is crucial in building a culture of giving that will endure. This process often begins at home, where parents can model charitable behavior and encourage their children to participate in philanthropic activities. Whether donating to a cause, volunteering at a local shelter, or organizing a fundraiser, these early experiences can have a lasting impact.

Role of Families and Schools

Educational institutions also play a pivotal role in fostering philanthropy among young people. Schools can incorporate lessons on social responsibility, ethics, and community service into their curricula, helping students understand the importance of giving back. Moreover, schools can offer extracurricular activities that allow students to engage in philanthropy, such as service-learning projects or fundraising initiatives.

One example of successful philanthropic education is the Youth and Philanthropy Initiative, which partners with schools to teach students about philanthropy through hands-on projects. Kids learn about a social issue, select a charity that addresses it, and then deliver presentations that are judged by a panel of their peers. The winner earns a $5,000 grant for their charity. This program has empowered thousands of students to take on leadership roles in their communities, demonstrating the powerful impact of early philanthropic education.

Millennial parents are increasingly focused on raising socially conscious children by incorporating philanthropy into their family routines. They encourage their children to participate in charitable activities from a young age, whether through volunteering as a family, donating a portion of their allowance to causes they care about, or discussing social issues at home. 

These parents often use technology and social media to expose their children to global causes, fostering a sense of empathy and responsibility. By modeling charitable behavior and making giving a regular part of their family life, Millennial parents are nurturing the next generation of philanthropists passionate about positively impacting the world.

Leveraging Technology and Social Media

Technology and social media are powerful tools for engaging young people in philanthropy. Platforms like GoFundMe, Instagram, and TikTok have made it easier than ever for individuals to raise awareness and funds for causes they care about. By leveraging these platforms, young people can amplify their impact and connect with a global community of givers.

For instance, the #GivingTuesday campaign, driven mainly by social media, was launched in 2012 and is celebrated the Tuesday after Thanksgiving in the U.S. Charities, nonprofits, donors, and others use the hashtag to spread awareness and fundraise, to great effect: in 2021, American nonprofits collected $2.7 billion in donations. This example highlights the potential of digital platforms to mobilize young philanthropists and inspire collective action.

The Broader Impact of Youth Philanthropy

Encouraging philanthropy among young people not only ensures that charities can continue their important work—it also has broader societal benefits.

Long-Term Benefits to Society

Youth philanthropy fosters a more compassionate, engaged, and socially responsible society. When young people are encouraged to give, they develop a deeper understanding of social issues and are more likely to become active citizens who advocate for change. This engagement can lead to innovative solutions to global challenges and a more equitable world.

Sustaining Charitable Causes

Moreover, instilling a philanthropic mindset in young people helps ensure the continuity of support for critical issues. As younger generations take on leadership roles in philanthropy, they bring fresh perspectives and innovative approaches to addressing societal challenges. This continuity is essential for sustaining progress in areas like healthcare, education, and environmental conservation.

One inspiring example is the work of Malala Yousafzai, who, as a young person herself, has become a global advocate for girls’ education through the Malala Fund. Her activism has raised millions of dollars for education initiatives and inspired countless young people to act on behalf of others.

Funding a Bright Future

As we look to the future, the next generation holds the key to the continued success of philanthropic endeavors. To encourage their involvement, we must take deliberate steps to integrate philanthropy into their lives—whether through education, mentorship, or digital engagement.