One of the most pressing issues facing Canadian charities is the growing giving gap between older donors who are currently giving at a much faster rate than their younger counterparts. Over the last several years, CanadaHelps has reported extensively on this gap in our annual Giving Report which has highlighted that when older donors are no longer able to give, there is a real concern that younger Canadians won’t be able to make up for this shortfall unless their giving patterns change.
In an effort to understand how we can tap into younger donors and mitigate this looming funding crisis within our sector, I recently picked up Generation Impact: How Next Gen Donors Are Revolutionizing Giving, authored by Sharna Goldseker and Michael Moody.
While the book shares valuable insights when it comes to the rising influence of young donors and their profound impact on the future of giving, it also highlights the important role that young donors have when it comes to shifting our perspective and traditions within the charitable sector. Whether it’s through the use of technology or by leveraging networks to drive change, the book also highlights how young givers want to participate in changemaking as a collective group that is driven by deep rooted values that must align with their giving.
Generation Impact calls for sector leaders to nurture authentic relationships with young changemakers to maximize charitable impact. This is particularly important in the context of giving trends, but also in the context of the massive generational wealth transfer that is expected. While many young Canadians will soon inherit a lot of wealth which will allow them to give, charities need to remember that these generations have a different approach to giving and they must adapt their strategies.
As we look to the future, I found that Generation Impact truly showcases the power young people have — both here in Canada and around the world — to push change forward. I encourage all sector leaders to give it a read and begin thinking about how we can embrace new perspectives and how to work with the next generation of leaders to collectively turn systems and ideologies on their heads to truly transform our world.
Duke Chang is the CEO of CanadaHelps.
