How Nonprofits Can Attract Gen Y Donors
June 15th, 2010 by Houda Elyazgi. Posted in Industry Expertise, Tips and Tricks
As nonprofits approach the end of a fiscal year and gear up to begin a new one, fundraising campaigns are top of mind. This is the time of year when capital campaigns are launched and invitations to gala events are sent to loyal supporters.
A recent study, titled The Next Generation of American Giving, cites that the majority of fundraising targets older, more mature donors, but this segment of the population is quickly shrinking. Nonprofits are going to be forced to attract a new generation of donors. Generation Y, or the Millenniums, is a growing segment of the population with more than 71 million people compared to the 41 million Generation Xers before them.
The study also reports that matures give, on average, $1,066 per year to 6.3 charities, while baby boomers give $901 per year to 5.2 charities. Generation X gives $796 on average to 4.2 charities, and Generation Y gives $341 to 3.6 charities.
So the question is, how do we persuade Generation Y to give more? Consider the following recommendations to help attract young donors:
1) Host events that appeal to younger audiences. Each year, Allied Arts hosts their “ARTini” fundraiser, an event inspired by dedicated young professionals in the Oklahoma City metro area. This year, the event raised more than $20,000 to support arts programs in central Oklahoma.
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