L’ador V’ador - From Generation to Generation
There’s a phrase in Hebrew, L’ador V’ador.
It means from generation to generation. It’s about passing on stories, learning and traditions from one generation to the next.
Philanthropy and giving back is a big part of that.
As the wise Carrie Bradshaw once said,
“After all, seasons change, so do cities. People come into your life and people go.”*
And as the seasons change, your big donors are also going to change as one generation passes on to the next.
This summer, we spoke a lot about the great wealth transfer. Wealth transferring from one generation to the next.
All summer, we were talking about planned giving, which helps nonprofits capitalize on this great wealth transfer. Bequests, QCDs, prospecting, stewarding, and more.
And most importantly, we talked about why planned giving matters.
It matters because people want to be remembered.
Their legacy is something people start to think about, especially at the end of their life.
What better way to be remembered than to be generous to a cause they care about?
That’s the beautiful thing about planned giving to nonprofits. One gets to ensure something they care about will thrive after one is no longer able to see it.
And now is the time to emphasize these types of gifts.
Not only are we in a season change from summer to fall, but there is a generational change happening.
I recently read about how this is the first time in U.S. history that there are five different and unique generations in the workforce.
Who are these generations?
The Silent Generation – Folks born between 1928 – 1945. Their early years marked by the Great Depression and World War II. They are at the end of their working years (if not retired).
Baby Boomers – Born between 1946 – 1964. While they were the largest generation in the country until recently, this group was impacted by a post-War boom and the turbulent times of the 1960s. Most are either at the peak of their career or in the beginning of their retirement (the youngest just hit 60).
Generation X – While less spoken about than the generations that surround it, this group was born between 1965 – 1980. It seems as if there has been a shift in generational power as these folks are claiming it more and more across sectors from the Baby Boomers (we’ll talk more about this next month).
Millennials – Currently the largest generation, we (yep, I’m in this group) were born between 1981 – 1996. The first generation to grow up with the internet and impacted by 9/11 and its aftermath, and the 2008 financial crisis.
Gen Z – The youngest generation in the workforce were born between 1997 – 2012. This tech-native group is challenged to remember that texting did not always exist and is at the beginning of their career or still in school.
But I’m a fundraiser at heart. So why am I sharing all this?
Because not only are these the current five generations in the workforce, but these are the five generations of your donors.
They each had different experiences that shaped who they are.
They have different interests.
They have different comfort levels with technology.
They have different expectations for how to be treated.
So you, as the stewards of the donor relationships, have to know how and when to segment the groups and adapt your communications and cultivation.
Let’s consider what each generation needs:
The donors in the Silent Generation probably doesn’t prefer a text message to confirm the details of an event. Instead, sending an invitation in the mail with a larger font might be a better way to ensure they attend. If you haven’t yet spoken to them about planned giving, it might be too late - they already have their estate plans in order and therefore would need a lot of encouragement to make additional changes.
The donors in the Baby Boomer generation are probably where the most of your major donors are. As the current largest holders of wealth, the great wealth transfer is transpiring right now as these folks pass on their wealth to the next generation. But some of it can also go to charitable organizations. How can you ensure your communications reflect the opportunities to leave a legacy to this group?
Gen X donors have extremely limited time. They might be at the peak of their career, taking care of their parents and driving their children between endless activities. So while they may be able to give more than they used to be able to, it may be harder for you to get in front of them to build the relationship. Therefore, you want to ensure your communication with this cohort is to the point.
Millennials donors may be thought of as your “Next Gen” donors, but often that is not how they want to be thought of (at least I know I don’t). They want to add value in real ways with not just their financial support but also with their talent. You might want to consider how you can also educate them about giving - this generation is already invested in the stock market and cryptocurrency and creating Donor Advised Funds. But they need to know these are types of assets they can give to YOUR nonprofit.
And Gen Z? You need to demonstrate trust. They don’t have decades of knowledge to know you really are a worthy organization. They don’t live in a culture where just because someone says something is true, then they believe it. Plus, they get their information through social media - not through email. So use social media to engage with them. Use real pictures and videos of your work in action to prove your credibility and impact.
Look, the seasons are changing.
And so do the generations. Your donors often expect you to treat them the way they want to be treated. But if you don’t know them personally, what can you assume?
While all assumptions and stereotypes are not good, they can be helpful when you segment your donors into these categories.
Need some help thinking about how to segment your donors, cultivate them properly and communicate based on their generation?
*While Carrie Bradshaw may not have been a respected Hebrew scholar, the quote does deserve proper citation:
"Sex and the City," season 4, episode 18, written by Michael Patrick King, directed by Timothy Van Patten, Home Box Office (HBO), 2002.