Older and younger Americans differ on their method of philanthropic engagement. A 2024 Bank of America Private Bank Study of Wealthy Americans produced in conjunction with marketing firm Escalent, highlights findings from a survey of over 1,000 respondents with over $3 million of investable assets. The survey respondents were broken down into two age categories: children (ages 21-43) and parents (ages 44+). One key takeaway was that, regardless of age category, 68% of respondents were focused on long-term impact.

Our own Donor Trust Special Report: Public Eye on Charity Accountability surveyed more than 2,100 adults in the United States.  Respondents attributed relatively high importance to a charity’s long-term results as compared to immediate results.  Long-term results were deemed highly important (9 or 10 on a 10-point scale) by 46% of respondents overall and ranged from 37% of Gen Z respondents to 48% of Boomers.

Of the five generations surveyed (Millennials, Gen Z, Gen X, Boomers, and Matures), Millennial (76%) and Gen Z (76%) participants were most confident, saying they knew the meaning of charity impact. We also found that wealthier participants were more likely to report knowing the meaning of charity impact. 77% of those making $200K or more per year believed they knew what charity impact was but only 65% of those making under $70K felt the same.  However, younger participants and wealthier participants were also more divided when asked to choose among the following definitions of charity impact: overall change in outcome brought by the charity’s programs, achievement numbers, quality of programs, reaching defined goals, and efficient spending.

Regardless of age, wealth or other demographic group, we encourage donors to think about charity impact when giving. Browse charity websites, read annual reports, and examine fundraising materials to look for specifics about what the organization is accomplishing year over year to make better giving choices. While there isn’t one best way to define charity impact, quality information on programs, achievements, goals, and spending are all important factors, all of which are addressed by our standards. And we’re here to answer questions. As always, visit Give.org and look for BBB Accredited Charities (i.e., those that meet all 20 BBB Standards for Charity Accountability) before you give.

Heart of Giving – Passing the Torch – Leadership Change at BBB Wise Giving Alliance

This week’s Heart of Giving Podcast features a unique episode. Roles are reversed as our new President and CEO, Bennett Weiner, interviews the organization's former leader, Art Taylor, who now serves as President & CEO of the Association of Fundraising Professionals.

Recent Reports

We are always working with charities to publish or update reports for donors. Visit Give.org or local BBBs to check out any charity before giving. Our recently evaluated charities include:

• Friends of Animals
• Locks of Love
• Prison Fellowship International

Finally, remember to let us know by going to give.org/charity-inquiry if you are interested in seeing a report on a charity not on the list and we will do our best to produce one.