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If you're a millionaire under the age of 43, you might want to think twice about giving to a charitybecause you're more likely to volunteer, fundraise, and act as a mentor than you are to give money, according to a new survey from Bank of America Private Bank.
"They've already got these complex [giving] vehicles at the ready, so the education piece is critical both for nonprofits and for the advisors," the bank's head of philanthropic research tells CNBC.
With charity increasingly dominated by wealthy donors, and with the next generations expected to inherited over $80 trillion in the coming decades, courting the young rich will be critical.
"You need their perspective and you're going to need their money," the bank's head of philanthropic research says.
"Advisors to the young rich also need to be generous with their praise."
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
When you consider where someone gives their treasure, or volunteers their time and talent, or connects others with a cause, their heart is there, too! As we approach the end of the year and share in...more
Foundation: National Philanthropic Trust
Charitable Dollars Rose 3.7% Through June the Largest Second-Quarter Jump in 4 years.Half of Nonprofit Leaders Cited Donor Acquisition as a Top Challenge this year.The value of a volunteer hour...more
Stakeholders in philanthropy demand policy framework for volunteerism in Ghana.Stakeholders at the Ghana Philanthropy Conference 2024 have called on the government to implement a deliberate national...more
On November 14, 2024, at COP29 in Baku, Azerbaijan, the Sustainable Debt Coalition (SDC) brought together finance ministers, climate finance leaders, and civil society representatives.The event...more
Mansfield ISD is starting to see the first fruits of the district's $588.5 million bond package voters approved in May.Phase one projects include the construction of a second pre-K center, a police...more
Regional efforts are yet to harness the collective power of grassroots communities to achieve climate action targets.Policymakers can engage local communities in the climate conversation in several...more
US Peace Corps trains science high school students in climate leadership.36 students from PSHS campuses nationwide trained on conceptualizing, planning, and prototyping climate change solutions.The...more
Foundation: Community Foundation of Tompkins County
Students in an annual Philanthropic Leadership class distributed $58,900 in grants to local nonprofits.The course is designed to provide students with instruction and experience in philanthropic...more
Voter ID Information Cards are pocket-sized guides that provide insight on the acceptable forms of voter identification in each state.Voter ID laws disproportionately impact communities that are...more
Innovative ideas from Plymouth County youth earn $2,500 grant for community improvement.The project is designed to provide youth with opportunities to learn about community development and how their...more
Civic Engagement News from...
National Philanthropic Trust
Community Foundation of Tompkins County
Quad Cities Community Foundation
MetLife Foundation
Arkansas Community Foundation
Rose Community Foundation
Community Foundation for Greater Atlanta
Latino Community Foundation
Collaboratory
Community Foundation of Sarasota County
Social Entrepreneurship
Spotlight
Prisons and Social Enterprise
Getting Out and Staying Out, co-founded by Tony Smith of the VSA Consulting Group, works to reduce recidivism rate among men at Rikers Island, New York City. The recidivism rate significantly dropped from 60-plus percent to under 20 percent, with more than a thousand men over a span of eight years.
