Millennials and Gen Z — nonprofits need your help

Millennials and Gen Z, did you know that you’re the powerful force behind a new phase of philanthropy? With your influence, tech-savviness and passion for social issues, nonprofits are counting on you to help drive positive change. In fact, you’re already stepping up in meaningful ways!

There are approximately 73 million millennials in the U.S., making you the largest generation in the U.S. With more than half of all Americans being millennials or younger, your collective impact is immeasurable.

Here are some statistics: Millennials are more racially diverse than older generations and 74% would describe themselves as philanthropic. Between 2016-2022, millennial households increased their annual giving by 40%, from $942 to $1,323. Additionally, 87% of millennial workers give to charity and 70% volunteer their time.

You’re also three times more likely than other generations to advocate for a cause you care about. With millennial wealth doubling from 2019 to 2023, your potential to influence positive change is stronger than ever.

Gen Z represents a new movement of philanthropists

Gen Z, you are equally as impressive as emerging philanthropists. There are approximately 70 million Gen Z members in the U.S., with nearly 40 million turning 18 or older in 2024. As the most racially and ethnically diverse generation, Gen Z wealth has tripled from $2 trillion in 2019 to $6 trillion in 2023. Having grown up in the social media era with a 24-hour news cycle, older Gen Z, born between 1997 and 2002, are especially tech-savvy.

Statistics aside, you’re very vocal about social justice, climate change and equity. Sixty percent of you have decided you want to make a difference in the world, and you’re most likely to donate because it’s simply “the right thing to do.”

Whether you’re a millennial or Gen Z, there are many ways to support nonprofits including:

Lending your expertise. Use your skills in finance, marketing, event planning or social media to help a nonprofit. Many organizations need help in these areas.

Joining a nonprofit committee or board. Share your ideas and help shape the future of a nonprofit.

Advocating for your cause. Use your voice and social media to spread awareness and advocate for the issues that matter to you.

Setting up a monthly donation. Make regular contributions to a cause you’re passionate about. Small, consistent donations can make a big impact.

Volunteering. Help with tasks such as stocking a food pantry or even virtually helping with social media.

Giving isn’t just about cash — there are many ways to contribute.

Set up a field of interest fund. Start a charitable fund to support causes that you care about.

Open a donor-advised fund (DAF). DAFs offer immediate tax deductions and you can choose where you want your money to go over time.

Ask about employer-matching gifts. Talk to your employer about matching your donations and double your impact.

Give stocks. Donating stocks instead of cash can offer you tax benefits.

Join a giving circle or start your own. Collaborate with others to pool your contributions and maximize your impact.

Create an estate plan.  it’s never too early! A beneficiary designation to your IRA or life insurance will cost you nothing today and can have a big impact later.

Get involved through educational programs and social events. Many nonprofits, including the Community Foundation of Anne Arundel County (CFAAC), offer educational programs or social gatherings that you can attend to learn more about their work and the community’s needs.

Here’s how you can get started:

Identify your values. Focus on your favorite areas of interest such as education, environmental protection, social justice or animal welfare.

Research nonprofits. Check out organizations’ websites to learn about their mission and see how you can get involved.

Start small. Attend an event or a one-time volunteer opportunity to see if a nonprofit is a good fit for you.

Your generation is already making a difference. Whether it’s through your time, talent, treasure or ties, your involvement can create lasting change. CFAAC can help with it all. We can introduce you to local nonprofits and work with your professional advisor to create a plan for your future giving. Contact us at info@cfaac.org or check out our website at cfaac.org.

The Community Foundation of Anne Arundel County (CFAAC) is a tax-exempt, 501(c)(3), publicly supported philanthropic organization with the long-term goal of building permanent funds that provide support to local nonprofit organizations through grants and special projects. Our mission is to inspire and promote giving in Anne Arundel County by connecting people who care with causes that matter. Established in 1998, CFAAC is one of the largest funders of nonprofit organizations in Anne Arundel County. CFAAC distributes $5 to $7 million annually.