While I'm neither an expert on fundraising or marketing, I end up touching both at least a little in my work. So I was intrigued by a report from Fidelity indicating that Boomers are on track to give 20% more than the average donor in 2006. This amounts to an average donation of $6,000, which to many nonprofits is NOT chump change.
Other key findings include:
- "The 78 million Baby Boomers in the United States are on track to give approximately $100 billion to charity in 2006, a 25 percent increase over last year's estimated $79 billion in charitable donations by the Boomer generation."
- "While the greatest share of working donors (43 percent overall, and 47 percent of Baby Boomers) believe they will have to cut back their giving amounts after they retire, only 20 percent of retirees (age 60 and over) actually had to do so, and another 32 percent were able to donate more."
- "The Gift Fund's research also shows that more than half (52 percent) of younger donors (ages 25-39) are taking the time to carefully plan their giving each year. Nearly three-quarters (73 percent) of this group plan to give more of their paycheck to charity over their lifetimes than their parents did. Correspondingly, parental discussions on charitable giving were most common among younger donors, with almost half (46 percent) saying their parents spoke about it with them at least annually. And not surprisingly, younger donors report that their giving behavior is impacted most often by their parents (26 percent)."
Seems like there might be some opportunities for Boomer and Gen X marketing here.