Millennials have recently been given some bad reputations, but a lot of people do not know the definition or age bracket of this group.
Let's start with the baby boomers, according to Pew Research Center, baby boomers are those born from 1946 - 1964. Boomers have long been the example generation for many good reasons; today they are still the largest age group in political office, but generation X is fast approaching.
Generation X sits between Boomers and Millennials; Gen X includes those who were born from 1965 - 1980. This group has been given the nickname of the "middle child" generation and now holds about 1/3rd of the house seats and with millennials right behind them.
Millennials, are those born from 1981 - 1996, therefore anyone born in 1997 starts the new age bracket, Generation Z nicknamed the 'iGen' or 'digital natives'. Millennials have grown up in a time of internet expansion, electing the first black president, and being aware of the 9/11 attack and the Iraq and Afghanistan wars. Millennials were the most diverse adult generation until the iGen came of age.
iGen individuals have little to no memory of 9/11 and have the unique position to technology advancements with the iPod coming out in 2001 and the iPhone in 2007. As they enter the workforce they are advanced in use of technology, while all the other generations have had limited access and understanding. Social media, WiFi, on-demand entertainment and communication have always been a part of their lives. Millennials and previous generations have had to adapt to the every changing and expanding environment.
Now let's look at nonprofits, volunteerism, and these newer generations.
About 6.5% of Americans volunteer for nonprofits everyday averaging about 2.3 hours daily. That equals 7.6 million volunteers! In 2016, Millennials became the largest group in the workforce. In a poll on incentives for volunteering 51% favored networking opportunities rather than a gift. Similarly, 61% favored gaining experience rather than receiving a gift. Lastly, 58% of millennials preferred one-time or short term volunteering.
How do millennials measure up on donations?
About 84% of millennials gave in 2017, each person averaging about $481 to about 3 organizations annually, about $40 a month. Their donations equaled about 11% of total giving. With social media being such a popular force 16% of millennials gave through Facebook, 47% gave though organizations websites in 2016, and 46% donated to crowdfunding campaigns. Although they give the least annually, it is not easy for them to do so. The Street, states that millennials are facing 7.2%- 14.5% unemployment rates which are compounded by their student load debt averaging about $37,000 per graduate. With the percentage of households giving dropping by 12% and the average amount dropping by $150, Millennials are changing how we donate by increasing online giving by 7.2% in 2016.
Furthermore, Millennials were the most likely to donate to hurricane relief as well as research hurricane charities. They are also donating more than money; 41% preferred to donate clothes, food, and other supplies and 27% volunteered their time.
What's Next?
With the older millennials into parenthood half of those parents are researching charities before they give and 61% are talking to their children about the multiple types of charity. They are also looking for employers who donate and always looking for products of companies that donate. Millennials are "payving " the way for the next generation of givers, and that is something worth talking about.
Sources
