Time and Money: Philanthropy of Millennials and Baby Boomers

Over 1.5 million non-profits are registered in the US according to the National Center for Charitable Statistics (NCCS). All of which are looking to garner support from the public. The two largest groups, with greatest buying power, are the Baby Boomers and Millennials; groups with very different experiences and motivations.

Baby Boomers watched as Neil Armstrong took “one small step” on the moon, can remember the Cold War, JFK’s assassination, and the Vietnam War, as well as Beatle-mania and Woodstock. They also saw some of the most successful years we’ve had as a country, and are generally more financially secure. Millennials witnessed the birth, and foster the growth of the digital age, watched as the Twin Towers fell, helped elect the United States’ first African-American President, and stream music on their iPhones. Though they have considerable buying power (due to the large size of the group), many Millennials struggle to reach the financial success of the older generations due to the “Great Recession” in the late 2000s. These groups have different perspectives of the world but both groups are big on giving back.

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