The Next Generation of Donors

The Seven Faces of Philanthropy is an interesting book. The authors talk to major donors about their movitations for giving, pore over the responses, and identify seven personalities.

As a higher education professional, the one personality that seems to fit most of our donors (many of whom are alumni) is the Repayer. Repayers tend to have been constituents first and partners second. A typical Repayer has benefited from some institution and now supports that institution from a feeling of loyalty or obligation.

Most of our donors are also 55 and older. Most colleges struggle to get millenials to give; but just because they are paying off student debt doesn't mean they can't give something. It's more likely that they don't see themselves as Repayers.

Millenials don't trust institutions. Ergo, they won't support them. So asking them to support the annual fund so a college can go on college-ing is a lost cause.

However, they will support causes. They won't support the Red Cross because they believe in their mission but they will support the Red Cross' efforts to help Hurricane Harvey victims. Then they move on to the next cause, regardless of the charity doing the work.

This is where The Seven Faces of Philanthropy can help. When millenials give, they see themselves as (mostly) Altruists. Altruists give out of generosity and empathy to urgent causes and who modestly wish to remain anonymous.

The challenge for higher education is to market giving opportunities as causes. Talk to millenials as Altruists, people who's gift can directly improve someone's life.