Letter from the Director
As we enter November, I hope you are enjoying the cool crisp mornings and beautiful colors of Fall. National Philanthropy Day, when we celebrate the contributions of those who support philanthropy, is November 15. This is followed by National Giving Day on November 29. The timing of these two days are perfect, as it allows charities to honor and show gratitude to donors, volunteers, corporations, foundations and others who make a difference in philanthropy. Let the celebration of philanthropic supporters bring a sense of greater generosity towards charitable activities on National Giving Day and throughout the rest of the year!
The 2022 Bank of America Wealth Study is worth reading, as we always want to learn more about those who support philanthropy. Over the next few decades, the next generations are expected to inherit trillions of U.S. dollars from Baby Boomers. Of that, $73 trillion will transfer to individual heirs over the next 25 years, while $12 trillion will go to philanthropy. The Bank of America wealth report provides insights on how new and older generations differ in their views related to matters of wealth and philanthropy, which is vital information for charitable organizations that are seeking assistance for philanthropic causes. New generations are different than their parents in the ways they communicate and operate, and their philanthropic priorities may change as well. Findings from the wealth report show us that:
Additionally, we glean that “respondents with $3 million to $5 million in investable assets were 16 percent more likely to say they volunteered and 7 percent more likely to say they participated in mentorship, compared with those who have $10 million or more. Respondents with over $10 million were much more likely to sit on a board (7 percent more than those with $3 million to $5 million), use charitable trusts (9 percent more) and use donor-advised funds (17 percent more). The majority of those who give (72 percent) prefer to do it anonymously.” This data is valuable, especially as nonprofits try to identify volunteers and members to engage on different boards and committees. I hope that you find the report insightful and are able to use it strategically when considering your outreach efforts for fundraising.
At the USM office, we are excited to announce that Lois Baker has joined our office as Prospect Researcher. Most recently, Lois worked as a freelance prospect researcher and was with Conservation International. She is interested in the arts and teaches dance.
As always, please feel free to reach out to us with questions, comments or any assistance with fundraising research!
Sapna and USM Advancement Research Team
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