Baby Boomers Lead In Generosity As Giving Shifts By Generation

A recent Giving USA survey conducted in partnership with Dunham+Company and Campbell Rinker reveals notable trends in charitable contributions across generations, with baby boomers maintaining their status as the most generous donors. Averaging $3,256 annually in charitable contributions, boomers outpace all other generations by a wide margin, more than doubling the average annual giving of millennials, who come in second at $1,616.

The study, which surveyed 1,500 individuals who donated at least $20 to charity in the past year, is the third installment exploring how different generations engage in philanthropy. It shows that while millennials have surpassed Generation X in giving since 2021, Gen X continues to lag behind, averaging $1,371 annually. Gen Z, though currently contributing the least ($867), shows the greatest potential for future giving, with nearly 29% indicating plans to increase their support for churches and places of worship—three times the rate of baby boomers.

Interestingly, religious attendance may be a factor in this shift. Millennials and Gen Z demonstrate higher weekly or near-weekly attendance at religious services compared to Gen X and boomers. This increased spiritual engagement among younger adults may be influencing their generosity. However, despite a drop in religious service attendance, boomers continue to dominate in terms of financial contributions.

The motivations and methods behind giving also vary by age. Boomers are most likely to respond to direct mail campaigns, while millennials and Gen Z are more influenced by content found on charity websites and social media. In terms of time, Gen X leads in volunteer hours, offering an average of 39 hours per year—likely a result of more flexible schedules.

The data points to an evolving landscape in charitable giving. While older generations continue to provide financial stability for churches and nonprofit organizations, younger donors are shaping the future of philanthropy through digital engagement and enthusiasm for increasing their impact.

For more details, refer to the original article on ReligionUnplugged.