How Gen Z and Millennials Can Make Strategic Donations to the Causes They Support

When it comes to charitable giving, Gen Z and Millennials are increasingly playing an important role. According to a survey conducted by the National Philanthropic Trust, in 2020, young people aged 24 to 39 gave an average of 8.2% of their annual income to charities. Whether you’re a young professional, a student, or simply someone who wants to make an impact, here are some tips to help you make strategic donations to the causes you care about.

What is Charitable Giving?

Charitable giving is the practice of donating money, goods, or services to a nonprofit organization. It’s an important part of philanthropy and can be extremely rewarding for those who take part in it. Charitable giving can take many forms, from donating money to participating in fundraising events, volunteering your time and skills, or buying items for those in need.

Who Donates Most?

The oldest the generation, the more they seem to give. Tradition donors (GenX, Boomers, Traditionalists) have more disposable income and tend to give more as individuals and in total.

But Modern donors, or Next-gen donors (Millenials & Gen-Z), are showing a huge appetite to give back and help others, sometimes in less conventional ways, supporting causes rather than institutions, grassroots-type movements, and looking for more direct impact. When engaged through the right channels, these generations show incredible generosity and donate on average to 3.3 charities. Z Event, a video game streaming marathon, showcases that very well.

TAP4CHANGE will provide the right channel to these generations and older ones, by delivering a much-needed convenient, transparent, and uplifiting donation experience.

How Much Should You Give?

The right amount to give depends on your personal circumstances. However, there are certain advantages to giving generously. For example, donations to registered charities are tax-deductible, so you can reduce your taxable income and save money on taxes. It’s also possible to donate items instead of money. If you’re in a position to do so, consider donating clothes, furniture, books, or other items to organizations or people in need.

Reputable Charities

To ensure you’re donating to a reputable charity, it’s important to do your research. Check if the charity is registered with the government, read their reviews online, and learn more about their mission, activities, and impact. Additionally, it’s important to know where your money is going. Ask the organization how exactly it will use your donation, and keep an eye out for charities that are transparent about their finances.

Conclusion

Charitable giving can be an extremely rewarding experience for those who choose to participate. Generosity doesn’t always have to come in the form of money; it can also take the shape of volunteering, spreading awareness, or donating items. However, it’s important to make sure you’re donating to reputable charities by doing your research and making sure your money goes to the right place. Through thoughtful and strategic donations, Gen Z and Millennials can make a difference and contribute to the causes they support.

Quick tips:

For those looking to donate to charity, it’s important to know that your money is going to the right place. To ensure you’re donating to a reputable charity, it’s important to do your research. Check if the charity is registered with the government, read their reviews online, and look up their mission, activities, and impact. Additionally, ask the organization how exactly it will use your donation, and keep an eye out for charities that are transparent about their finances. By conducting a thorough donor's lookup, you are taking steps to ensure your money is going where it’s needed.

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References:

[1] A Look at Generational Giving Donor Trends and Influences

[2] Understanding the Next Generation of Donors and How They Will Change The World

[3] 80+ Charitable Giving Statistics & Demographics (2023)

[4] Four Generations For Charity: Who Really Gives a Buck?

[5] A Look at Generational Giving Donor Trends and Influences

[6] Why Gen Z Might Become One Of The Most Charitable …

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