By Steve Dinnen
In 2024, donations to nonprofits rose 1.9% from the previous year, according to a new report from the Blackbaud Institute. But the report, which is one of the first that hints at giving last year, found that fundraising growth didn’t keep pace with inflation, which clocked in at 2.9%.
In a separate study reported by the Chronicle of Philanthropy, it appears that millennial donors are becoming an increasingly important source of support for charities. Giving USA and the fundraising firm Dunham + Co. estimate that millennials (born 1981-1996) outspend older Gen X donors (1965-1980) by 18%.
Yet another report on generational giving patterns shows that the Silent Generation (1928-1945) was the most engaged with giving: 88% donated to some sort of charitable cause. Millennials were second, at 84%, although they contributed far less on average than their grandparents.
Boomers had pretty good participation, at 72%. They were responsible for 43% of all charitable giving despite accounting for just 24% of the population. Gen X logged the most volunteer hours.
