What springs to mind when you hear the word “philanthropist?”
Whatever your definition might be, we at Catholic Charities know that anyone can be a philanthropist. If you can donate $1 or an hour of your time to a cause you’re passionate about, you are a philanthropist.
It can be hard for young professionals to consider themselves philanthropists, but millennials are shaping up to be one of the most charitable generations. An astounding 84 percent of millennials donate to charity and give an average of $481 (even though they earn less than previous generations). And while baby boomers currently account for the largest percentage of overall charitable giving, millennials will be on the receiving end of one of the largest transfers of wealth, an estimated $68 trillion by 2030. This is significant considering that this age group is known as the “impact generation” because of its already high levels of engagement with philanthropic causes.
When it comes to volunteering, 70 percent of U.S. millennials are reported to have volunteered at least an hour to a charitable cause, according to a study by the research group Achieve sponsored by the Case Foundation, and 77 percent said they would be more motivated to volunteer if they could use their professional skills to help those in need.
Younger generations are passionate, informed, and committed to making the world around them a better place. They are not waiting to become philanthropists because they’re busy redefining philanthropy itself.
At Catholic Charities, we know this is true because we’re fortunate to have an engaged group of young volunteers and donors to amplify the work we do. We are grateful to them for prioritizing their support for our mission by donating their time and treasures. From financial coaching to refreshing homeless shelters to serving hot meals to the hungry, these young philanthropists have formed a special community that is committed to positively impacting the lives of thousands of people in need. By contributing to Catholic Charities, they are building a legacy that will endure for generations to come.
For the next few weeks, we will introduce you to some of the incredible young professionals who are changing the face of philanthropy through their work with Catholic Charities.