Generational Giving: Millennial Giving Trends, Preferences, and Patterns

As the millennial generation ages and grow as philanthropic supporters, it is so important for fundraisers to stay in tune with where the preferences of this generation are landing. The Generation Giving Report is the best guide to learn about the motivating factors and giving preferences of millennial supporters. 

Members of the millennial generation are between the ages of 28 and 43 years old in a nonprofits constituent base. Most millennials will donate between $100 and $499 in 2024. Millennials are preferring to donate with a credit or debit card and with cash.

Who are the Millennial donors?

The Generational Giving Report found that in 2024, the majority of Millennials are expected to donate between $100 and $499. They are particularly drawn to causes related to human services, animal welfare, environmental conservation, and community development. When it comes to giving methods, they show a preference for credit or debit cards and cash. It was exciting to find that Millennials value making multiple donations throughout the year. This is driven by their deep connection to the causes they support, the belief that their donations make an impact, and the practicality of spreading out larger donations.

How are Millennials connecting with nonprofits?

The discovery process for Millennial supporters begins within their social circles–family, friends, peers, and coworkers. Platforms like Facebook and Google search also play a significant role in their search for nonprofits to become involved with. Personal connections with nonprofit staff members can alsobe a powerful motivator for Millennial engagement.

Once connected, Millennials have clear communication preferences. A significant 60% of millennials are subscribed to nonprofit email lists. Millennials are most interested in content that highlights program updates and client stories. This demonstrates their desire to see the real-world impact of their contributions.

Beyond monetary donations, Millennials are enthusiastic about other forms of support. A remarkable 64% provide in-kind support, and 48% volunteer their time alongside their financial contributions. Millennials are motivated to volunteer because they’re passionate about the organization’s mission, have a personal connection to the cause, and want to maximize their impact.

Over half (52%) are willing to participate in peer-to-peer fundraising because they enjoy helping an organization they care about, enjoy feeling like they’re making a difference, and believe they can have a larger impact. While only 29% have attended in-person fundraising events in the past year, those who do participate show a preference for breakfasts, luncheons, art exhibits, fashion shows, and races.

How to retain Millennial donors and supporters

Retaining Millennial donors requires a nuanced understanding of their communication preferences and motivations. They appreciate regular, non-fundraising communications from the organizations they support on a monthly basis. These communications can include program updates, newsletters, and general updates that don’t solicit donations.

After making a donation, Millennials prefer to receive updates via email and social media. This highlights the importance of maintaining an active and engaging online presence.

It’s also crucial to understand why Millennials might stop supporting a nonprofit. The top reasons include a lack of trust in how donations are used, they could no longer afford to donate, and no longer feeling connected to the organization. Addressing these concerns proactively can significantly improve donor retention.

Top strategies to engage Millennial donors and supporters

1. Recurring giving

The Millennial preference for donating multiple times throughout the year makes recurring giving programs a natural fit. This model aligns with their desire to provide ongoing support and their familiarity with subscription-based spending.

2. Amplify social media and online presence.

Millennials discover and engage with nonprofits online. Maintaining up-to-date social media profiles and a user-friendly website is essential. This is where they’ll go to learn about your organization, its impact, and how they can get involved.

3. Highlight Impact

Millennials want to see the tangible results of their contributions. Regularly sharing stories about how donations and volunteer efforts are making a difference can deepen their connection to your cause and encourage continued support.

Conclusion

Understanding and engaging Millennial donors is not just about securing financial support–it’s about building lasting relationships with a generation that is shaping the future of philanthropy. By aligning your strategies with their preferences and motivations, you can unlock the full potential of Millennial giving!

To learn about how other generations are discovering and supporting nonprofits, download your version The Generational Giving Report today!