Tag Archives: Millennial

Nonprofit Radio for April 3, 2023: OK Boomer, Move Over

 

Gene TakagiOK Boomer, Move Over

Gene Takagi

In only two years, Millennials will make up 75% of the global workforce. Along with Gen Z, these will soon be the majority of your workers, your donors, your volunteers. Think sustainability. Are you engaging them now? Are they fully represented on your board? Gene Takagi talks us through the implications around philanthropy, technology, fundraising, and more. He’s our legal contributor and the principal of NEO Law Group.

 

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[00:03:36.19] spk_0:
Friend. Welcome to tony-martignetti non profit radio big non profit ideas for the other 95%. I’m your Aptly named host of your favorite abdominal podcast. We have a listener of the week. Core Africa Liz Fanning, the executive director is a longtime nonprofit radio listener and core Africa just announced an investment of 59 million $400,000 over five years from Mastercard Foundation. And I think let’s just call it $60 million because the difference is a mere 600,000, which is trifling 1%. Core Africa. Congratulations to you. This is such a testament to the amazing valuable work of the core Africa volunteers throughout the continent. The dedication of the staff and the commitment of the board core Africa is going to expand to 11 countries with this new investment. Congratulations. Core Africa. I am so happy for you and happy to make you this week’s non profit radio listener of the week. Congratulations. Plus we have a new sponsor. Oh, I’m glad you’re with me. I’d bear the pain of Iraq Docks Icis if I had to see that you missed this week’s show. Ok. Boomer move over in only two years, millennials will make up 75% of the global workforce along with Gen Z. These will soon be the majority of your workers, your donors, your volunteers think sustainability. Are you engaging them now? Are they fully represented on your board? Gene Takagi talks us through the implications around philanthropy, technology, fundraising and more. He’s our legal contributor and the principal of Neo Law Group on Tony’s take 2 23 and TCC were sponsored by donor box. Welcome to Donor Box. Thank you so much for joining the non profit radio family. Very, very glad to have you. Thank you with intuitive fundraising software from Donor box. Your donors give four times faster helping you help others. Donor box dot org. Here is okay. Boomer, move over. It’s a pleasure to welcome back Gene Takagi. You know who he is, but he deserves a proper intro. Nonetheless, he’s our legal contributor and managing attorney of Neo, the nonprofit and exempt organizations Law Group in San Francisco. He edits the wildly popular nonprofit law blog dot com and is a part time lecturer at Columbia University. The firm is at Neo Law group dot com and he’s at G Tak Gene. Such a good. It’s such a pleasure to see you. Welcome back. Welcome back.

[00:03:41.20] spk_1:
Thanks so much. Tony Great to see you as well.

[00:03:46.96] spk_0:
My pleasure. Always. Now, when we last talked, we were with Amy Sample Ward and there was a discussion that included the, the potential decline of Twitter and the rise of some alternatives. Are you still at G Tech on Twitter? And, and are you any other place that, that I should be acknowledging?

[00:04:07.89] spk_1:
I’m still active on Twitter. I’m hedging a little and I’m on Mastodon and post, but those are sort of lightly used, but I post daily on all those channels.

[00:04:20.41] spk_0:
Okay. So still stick with Still Twitter. The best way to reach you think

[00:04:26.26] spk_1:
probably you wanted to see most of my content. Twitter is gonna be the best way to see you. Okay.

[00:04:44.60] spk_0:
Okay. Stick with that for now. All right. Millennials and uh and generation Z, you’re, you’re concerned about the future for these folks. What? Well, high level view, what’s concerning you?

[00:05:05.06] spk_1:
Well, it’s less concerned about these folks versus concerned about non profits for not engaging these folks because in a few short years by 2030 millennials and Gen Z will make up 75% of our work for, of course, they just crossed over the 50% barrier I think a couple years ago, but within seven years, 75% of our workforce, that’s a huge change in our, in our workplace

[00:05:21.70] spk_0:
demographics and, and we’re not, we’re not accommodating these folks you’re concerned about uh for instance, board membership, um significant employment issues. What, what, what would you like to? I’m gonna give you the first shot. I let’s change things up because sometimes I feel like an autocrat. So, what would, what would, what would you like to talk first? Talk about first? That nonprofits are just not paying sufficient attention

[00:06:26.96] spk_1:
to? Sure. Well, maybe I’ll just go without sort of criticizing nonprofits. Let’s just like, say, why should we as nonprofits engage millennials and Gen Z? Yes, they, they’re gonna make up a majority of our workforce. But what else does that mean? Um, and, you know, when, when they make up a majority of the work force, I think I’m also so saying, and I don’t have the studies to back this one up, but I’m also saying, eventually it goes to say that they’re going to make up a majority of our donors. They’re gonna make up a majority of the beneficiaries that we’re helping. They’re going to make up a majority of all of our supporters and our collaborators and eventually our generation Boomers, Gen X. Eventually we’re gonna kind of be not leading some of these places. Although I saw a really interesting article in the Atlantic a month or two ago that said, um people aren’t age, relatively young. Tony still still, but

[00:06:46.92] spk_0:
I’m young, I’m young, I’m 61. So I’m among the youngest

[00:06:56.32] spk_1:
boomers and I’m very close in age to you, Tony. And um the Atlantic article said that persons are age and even a little bit younger tend to think like we’re about 20% younger than we actually are. We kind of resonate with our maybe not our sort of calendar date but we feel like we’re a younger group by about 20%. Yeah,

[00:07:23.70] spk_0:
I agree. I feel even younger than, than 20%. I feel like, more like 40. Yeah. And I, 20 years, like 20, 21 years younger,

[00:07:33.53] spk_1:
I feel the same way. But it occurred to me in my head that maybe that’s why groups of leaders that are thinking about engaging younger people are not placing such importance in it because we think, well, we kind of understand that group anyway, we feel around that age, but when we start to, when we start to think about it, well, maybe there are some differences and maybe their perspectives and their skill sets and their experiences are going to really add value to our organizations

[00:08:31.47] spk_0:
and it’s not even, it’s not even, maybe, I mean, they will, but we need to, you know, it’s time for us to sort of move aside. Um, but, yeah, now it’s very interesting gene that, you know, our own self perception, maybe confounding the larger, the larger culture slowly holding, holding back the larger cultural changes, you know, just because I feel like I’m 40 doesn’t mean that I have the awareness of technology politics, the culture that a 40 year old has.

[00:08:33.25] spk_1:
Yeah, exactly. Right. And certainly not ones that I can tell you from personal experiences, like, from my niece is certainly not those, that 20 year olds.

[00:08:42.34] spk_0:
Yeah. Not even claiming. Right. Of

[00:08:49.81] spk_1:
course, of course, I just recall my niece is telling me this Miley face emoji is passive aggressive when I use that in text messages. So I have to watch myself in our communications.

[00:09:33.28] spk_0:
So it is, I see. Okay. I had, I had my own anecdote about a story I used to tell that is now deemed misogynistic, but I was telling it for years in professional settings, not just in stand up comedy but in professional settings. Um Yeah. No, you’re right. All right. So we have to get past our own self perceptions and think about the larger culture, economy, nonprofit sector. Alright. Alright. Alright. So help us, I don’t know. Are we talking? I guess, I guess we’re talking here to the, to the, to the uh the obstructionists were talking here to the Boomers. Are we move aside?

[00:09:38.97] spk_1:
Uh you know, a little bit um

[00:09:41.88] spk_0:
like we are, I feel like we are,

[00:11:43.76] spk_1:
yeah, especially to the extent that if you’re on a board or if you’re in an organization where your leadership is dominated by, by boomers um like ourselves, then, then, you know, maybe we have to think a little bit more about sharing power and authority and other things and not just to look better, like take a better photograph of our leadership, you know, for all, for all of these specific reasons, I’ll just raise a few right now. Um The laws changed and if the voting citizenry is changing in demographics, the laws are going to change to what they want them to change as within constitutional limits, of course. But even the constitutional interpretation is going to change as our Supreme Court starts to get younger. And I’ll cross my fingers a little bit on that. Um, but you know, what is charitable, um, you know, it started off as kind of relief of the poor. That’s what’s built into our regulations and then kind of expanded into, maybe we’ll civil rights can be charitable under five oh one C three. Um And then, you know, it expanded, although it’s not even stated in the regulations, the promotion of health being of five oh one C three, purpose and protection of the environment. Um Although I recall, I put in an application for a charity maybe 10, 15 years ago where global warming was something they wanted to combat. And the I R S asked, or at least this agent asked, you know, have you really looked into both sides of that issue because maybe if you’re just closing one point of view that it’s not charitable or educational at all. So, you know, our ideas have certainly evolved over what is and isn’t charitable and they will continue to evolve with younger people. Now again, making up some of the decisions of these and if we’re not anticipating these changes, then we’re going to be reactive, slow to react, possibly and less competitive in the very increasingly competitive field where philanthropy is also changing, right? What is philanthropy? Is it private foundations like it used to be? Um, we certainly know about donor advised funds. Yeah, please tell.

[00:12:47.76] spk_0:
Yeah. No, before we, before we advance there because that is a rich topic, the different forms of philanthropy but sticking with, you know, regulations. What, what is a charity? What is charity? Uh you know, that all that all depends on the, the our, our political leaders. Uh, you know, recognizing that there’s because I’m basing it on, you know, U S code and U S regulations promulgated by the, by the different departments of the federal government and state governments. You know, those are all promulgated, promulgated by legislatures and, and I don’t use this pejoratively bureaucrats, you know, public service workers in government. And if, you know, I, I see the politics being especially slow to change, I don’t know what, I don’t know what the average age is of a U S senator or U S representative. But I’m certain, I’m certain it’s not, I’m certain it’s not in the forties. I’d be very surprised if it’s in the forties even.

[00:13:07.02] spk_1:
Yeah, I agree. So our political system may be the slowest sort of, of the sectors to sort of change, although a lot of them are responsive to money. Right. Um, and we’ve been talking and kind of fundraising feels about the intergenerational transfer of wealth, the greatest ever in, in, you know, in the history of recorded civilization, I mean,

[00:13:34.41] spk_0:
okay. So, right. So the Boomers do have some value, leave, leave us your money, leave, leave your money behind. We need to, we need to execute, we need that wealth to execute change.

[00:14:18.80] spk_1:
And you know, as the Boomers sort of sort of aged out, the money is just being transferred into younger generations. And with that money now they’re going to influence political power as well. I’m a little cynical on this, but yes, money will sort of make changes or resulted in changes in the law, including in terms of what is charitable and just started to give you a hot topic. When we talk about relief, poor and civil rights being charitable. I don’t think that providing reparations to historically discriminated against or oppressed groups is considered charitable. But will that change over time? I don’t think selling solar energy at market rates is considered charitable to the general public. But will that change over time? I think these things can change fairly rapidly within a generation. So these are things that organizations need to pay attention to.

[00:15:47.49] spk_0:
It’s time for a break. Stop the drop with donor box. How many potential donors drop off before they finish making the donation on your website? You can stop the drop and break that cycle with donor boxes. Ultimate donation form you added to your website in minutes. No coding required, no batteries required. When you stop the drop, potential donors become donors with the four times faster checkout and more convenient ways to give from leading payment processors, apps and popular digital wallets. There’s no set up fees, no monthly fees and no contract required. And this is amazing. You’ll be joining over 40,000 U.S nonprofits donor box helping you help others donor box dot org. Now back to okay. Boomer move over. Interesting. Those are two really interesting ones. Reparations and alternative energy. Why did you, why did you uh I’m digressing a little bit. Why did you specifically say selling solar energy at market rates?

[00:16:55.80] spk_1:
Well, you know, I think again when we’re talking about relief of the poor were also sort of expanding that into economic development in, you know, historically disadvantaged areas. So, you know, blighted areas, areas that need sort of more economic development, bringing solar into those areas that sort of low cost may stimulate economic development as well as having sort of the environmental benefit that solar can bring, that would probably qualify as charitable even now. Um But if you start to sell it at market rates and go into expensive neighborhoods and tell people to convert their, you know, their energy sources or to, you know, buildings, first class buildings in downtown and saying, hey, change your energy source as a charity that might have a tremendous impact on climate change and other things. Um, if we could get big companies to change and put into their buildings and charities could influence that. That might have a huge impact, but it probably wouldn’t be considered charitable right now. I

[00:17:28.95] spk_0:
see. Okay. Okay, good. I’m glad I asked. All right. All right. Yeah. Reparations that it is kind of easy to see that in, in 10 years that reparations to African Americans, Asian Americans, Latin Americans that, that, those, those, that subject could be on the table for, for, for charitable, for, as a charitable purpose.

[00:17:38.97] spk_1:
10 years ago, it was really not even in the discussion outside 10 years

[00:18:16.12] spk_0:
ago. 10 years from now, 10 years from now. I think we’re, I think we’re in, I think the next 10 to 15 years are gonna be considerable political upheaval, cultural upheaval. There’s, there’s, I don’t know, maybe, maybe because, because I’m living in it. So I’m, I’m experiencing it as more volatile. Uh And I don’t mean that pejoratively more, more revolutionary than the transfer of wealth and uh power and prestige from other, other generations to two hours. I don’t, maybe because I’m, I’m the one surrendering the power. Maybe I see it as more, more of, more of a cultural shift than, than the past. Maybe the past has been significant as well.

[00:19:41.84] spk_1:
Yeah. You know, and, and it’s interesting. So, you know, if you were to look up articles on engaging millennials and Gen Z, you know, they’ll mention like different perspectives, but they’ll also mention something like they’ve got a greater passion for social justice and things of that nature and, you know, I, I agree to some extent that that is true. I think we can see that. But then when I think back, you know, to the sort of the older boomers and, you know, the hippies in the 60s, well, maybe everybody when they were younger it was just a little bit more into, you know, the environment and social justice and racial justice. And as you age, you know, again, taking a little bit of a cynical viewpoint and certainly not to, to sort of over generalize, but as a big broad group, you know, you become a little bit less, a little bit more resistant to radical changes. Um, you know, especially if you’re in, in a comfortable situation, you’re privileged enough not to have to worry about it in your own life. The changes that you’re pushing for, maybe we’re not as radical as when you were in your twenties. Um, um, and I think you see that throughout the world, some major major social movements led by sort of college aged kids or young adults. Um, and they’re the ones that are putting it all on the line.

[00:20:28.60] spk_0:
Your exact point has been driven home to me lately because I’ve been watching a lot of Woodstock videos on youtube and I’m thinking, you know, when, when they’re, when they’re showing the audience, you know, first of all, it’s fantastic because I’m watching Jimi Hendrix and The Grateful Dead and, but you know, when they, when they’re panning into the audience I’m thinking, are these folks, the folks who were sitting there in the, in the muck, you know, they’re now in their seventies and eighties, there was Woodstock was August of 1969. So, if you were 2025 or so, you know, your, your, into your seventies and, and if you were a little older, your, into your eighties, uh, talk about your perspective shifting from, from, from when you were in your twenties and thirties.

[00:21:16.96] spk_1:
Yeah. And you know, we’re the same people but, you know, life, life changes and our perspectives change. And even though we identify with some of the perspectives that younger people bring, we, they’re still different, you know, as we sort of admitted at the start of it. And so just so many changes um that they have a different feel for or that they place with different importance in terms of climate change is maybe a classic example of climate change may not do as much to an 80 year old in terms of their personal life. Um But to a 20 year old, climate change may completely impact their adulthood and, you know, whether they are below the water where they live or. Um so, you know, obviously they’re gonna, they’re gonna have a greater incentive to ask for more radical change. And, you know, well,

[00:22:00.24] spk_0:
hopefully these, these folks, the, the older boomers and the world war two generation. I mean, hopefully they’re thinking of their ancestors uh coming. Um, no ancestors are in your, your past. They’re thinking of their, their heirs and, and Children and grandchildren. I mean, at least the ones I talked to I think are considering those, you know, considering the future.

[00:22:05.39] spk_1:
I think. I’m sorry, go ahead. No,

[00:22:07.32] spk_0:
finish your point. Then I want to, I want to drill down a little more, a little more detail, but go ahead, please make your point.

[00:22:12.46] spk_1:
Sure. I was thinking that it’s been sort of a customary thought amongst older generations to want things better for your kids that your kids would have a better life than, than you. But I think right now we’re kind of in the generation, the kids generations that are coming up like the Gen Z’s where that probably is not true, at least economically, um

[00:22:52.46] spk_0:
at least economically. Yeah. Yeah, you’re right. We’re not. No, I agree. Alright. So you started to talk about different forms of philanthropy that uh I don’t know, call them Ems and Zs for millennials and Gen Z I know and your, your blog post, you call them younger people. Um I’ll call them Ems and Z’s but different forms of philanthropy, like donor advised funds, llcs were right there. They’re engaging a lot differently than direct gifts to 501 C three non profits.

[00:25:59.70] spk_1:
Yeah, I mean, which places nonprofits, charitable nonprofits to 51 C, three organizations in a place of competition for dollars. Um So it’s something again that nonprofits need to understand. Well, what is the value proposition they offer? Because I’m really start advocate of nonprofits being something very, very special and very different from a social enterprise, that’s a for profit. And so social enterprise actually was a co opted term. I think social enterprises used to refer to nonprofits like goodwill that we’re engaged in sort of earned income revenues. But now it’s sort of been co opted by the for profit sector of for profits that do social good or social enterprises when that’s sort of a primary reason for their, their operation and their, their existence. So, you know, these models are changing and millennials. Hmcs are saying, you know, we’re a little bit more sector agnostic in terms of doing social good, we could put it into a private foundation, but we probably don’t want to, we might use it to ask because it’s temporary and we don’t have to throw everything into it. What about an L L C like Mark Zuckerberg and Priscilla Chan, like the Chan Zuckerberg initiative, the Emerson Collective, which is Steven Jobs, um widows, uh you know, charitable vehicle or philanthropic vehicle. So those are llcs and you know, you can go into a whole show about that. Go fund me is sort of an alternative to giving the charities a lot of people, especially in the millennial and Gen Z H think giving directly to a beneficiary is the way to go bypass charity. Um C Four’s we saw the Patagonia founder Yvon Chouinard decide I’m going to give leave much my wealth to A C four and I’ll do it. Now. There’s planning reasons to do that with gift and estate tax deductions being much more valuable to someone like him than an income tax deduction when you’re like a tech entrepreneur and you’re not taking much of an income, but you have enormous amounts of wealth and stock that have not been um liquidated yet. So you’re sitting on tons of money, but you don’t have much of an income tax benefit from giving a donation. Um This volunteer work and giving data data is now, you know, a huge asset and a very valuable one that we’re understanding and personally we’re giving up our own data to a lot of sort of I accept um you know, websites that all of a sudden get to use our data and I know new laws are coming into that, but volunteering your data can also be an impor the thing that we have to think about. And so philanthropy and how we think of giving is changing rapidly. And there was a big change in the law just a few years ago in the Tax Cuts and Jobs Act that left itemized deduct Ear’s um that can take get a tax benefit from charitable contribution. It moved from something like 34 For 35 down to like, less than 13%. Yeah. So there’s just tremendous changes that can happen very, very quickly. And charities need to understand that. And again, younger perspectives, maybe on top of some of this news that older generations may not be following this closely. At least some of them.

[00:26:32.71] spk_0:
And you’re right to characterize these absolutely as competitors to our traditional five oh one c three nonprofits. And, and so you want to know what you want to know what your competition is doing, what these different forms are, are, are there, are there ways that you can leverage some of them? You know, maybe it is a subsidiary or some kind of an affiliate relationship. But you know, the knowledge is among the, the EMS and disease.

[00:27:15.98] spk_1:
Yeah, I agree, tony there. These are not only competitors, they often can be collaborators and allies. Um But you do need to understand kind of the relationships, the multiple relationships that you’re going to have with these different types of entities and how that will impact who your supporters are, who your donors are as your donor base or is your subscriber base or is your membership base as they start to age? Are you engaging more younger people? So, for sustainability over the future, even if that was like, our ultimate goal is to make sure that we have an organization in the future, you’ve got to engage the younger people that are gonna be running this show, um, in a few short years

[00:28:39.70] spk_0:
now, some folks may say, well, I can just, if I want to learn about these things, I’ll just engage a baby boomer attorney and he or she will explain or they will explain the, we’ll explain this all to us and then we’ll, but, but you’re not, you know, that’s be, that’s, that’s not what I agree with, but I could see a cynical view, well, just hire an older attorney. They understand llcs versus B corpse. And, well, you know, you know, the older advisers may very well understand the, the intricacies of, you know, creating one, but the creative side of how you can integrate it into your work if you can, you know, that, that takes someone who’s got a different perspective. And I think that’s, I agree with you. I mean, that’s the younger perspective, you know, how to creatively integrate, not just the nuts and bolts of how to LLC versus, you know, engaging a crowdfunding platform, you know, etcetera.

[00:29:55.11] spk_1:
Yeah. And I think when we talk about negotiating deals with other parties, you know, have, you know, if we’re not speaking the same language and customs and don’t have that same type of comfort and talking with the younger generation, um, you know, something can get lost and on their side if they don’t have that comfort, talking with an older generation, if it just doesn’t mesh quite as well as when they’re talking with, appear in their age group or within sort of a generational group that can affect the negotiation. And, you know, whether the deal gets done or whether they go with a competitor or whether they, you know, ask for more things because they trust you less. So just, you know, getting more people involved and if you are going to engage millennials and gen Z, I really want to make the point that it isn’t about just adding a few people in certain positions. Um It is really uh an understanding and an investment um that you need to make. It’s something where you have to empower people, not just sort of tokenize them or trivialize their importance, you really have got to give them in positions of responsibility. Um And you’ve got to open up your own culture to sort of embrace the additional sort of cultures and perspectives they can bring. So it really can’t be just like, okay, we’ll add like a senior manager, we’ll add a board member that’s, you know, 32 that, that’ll solve our problems.

[00:32:09.65] spk_0:
All the, well, all the caveats that you and I talked about when we’ve talked about uh diversity, equity inclusion, avoiding tokenism, you know, giving real authority, you know, levers of power, not, not just a higher here or, or a board member there. It’s time for Tony’s take 2:23 NTC. Big. Big thanks to Heller consulting. They’re sponsoring non profit radio at the conference, the nonprofit technology conference hosted by N 10, we will be together in booth 4 24. Hello, consulting, non profit radio Me, all three of us sharing a booth for 24. I will be capturing lots of interviews from the smart speakers at N T C and you should think about it to think about going, you can go hybrid. You heard Amy and me talk about it last week. It really is a very, very good conference. I mean, you can go virtually, virtually. Um It’s a very good conference, smart speakers. It’s fun. It’s just, it’s a very worthwhile conference to go to you. You will learn. Uh And of course, we know that this is not only for technologists but I’m repeating from last week. So all the info is at N 10.org. Thank you again. Heller consulting for sponsoring non profit radio at the nonprofit technology conference. Thanks so much. That is Tony’s take two. We’ve got Boo Koo but loads more time for okay. Boomer move over with Gene Takagi. I’m taking pleasure in saying I’m sweeping myself aside. Move over. Let’s talk some about the employment, employment changes, you know, the sensibilities that, that the, the M S and disease bring.

[00:33:59.34] spk_1:
Yeah. And I think that’s, that’s really hitting us right now because I think no matter what sector we’re in, we realize that employment has changed as a result of the COVID pandemic. Um We’re finding out what, where do workers want to work, how do they want to work? Um What is the most importance to them? And it’s not just sort of the data that we here, um you know, um from, from each other, but there are actual studies and I’ll just point to one, the Deloitte 2022 Y Z Global study. Um And you know, that that’s the study by the, you know, the big accounting firm and they found out what we probably already know, but cost of living is of tremendous importance um to, to these younger generations, work life, balance, learning organizations and what the organization, what they’re sort of, not only their viewpoint but how they operate and its social impact and its environmental impact and it’s sort of investment in diversity, equity inclusion. Those are things that matter to those younger generations in terms of, in their choice of work in terms of how long they might stay at a particular company. Um And, you know, those are things again and nonprofits are competing now, younger people are also moving from job to job faster than some older generations are used to. Whereas, you know, if, if we go older than us to a lot of people just worked one job their whole life. Um And that is certainly not true anymore. Um And it’s even less true now for the younger generations. So if we’re competing constantly for employees, what do we know? And understand what they want and need and consider important

[00:34:58.67] spk_0:
and what they perceive about us as a place to work. There’s, you know, there’s, there’s glass door and, and, and those, those types of sites but, you know, the, the research is so much easier to do and even when they’re, when, when someone is talking to you about potentially working for you, they’re, they’re taking a lot more clues, you know, than just how much vacation time do I get? You know, what and what’s the, what’s the medical insurance like, you know, uh time off flexible work locations. Um culture, you know, that’s, and culture is a very, you know, that’s a very amorphous thing, but folks are sussing it out as they’re interviewing you and they’re talking to you and, you know, if they’re only meeting people who are 60 and over as they’re interviewing that, that, no, that in itself says a lot about the culture at the institution.

[00:36:09.15] spk_1:
Yeah. And I’ll just sort of add even younger generation controlled companies um that, you know, and I’ll just do some of the big tech companies that are laying off like huge amounts of people right now. That’s a cultural thing that people will remember. Um So if you’re quick to lay off and you’re still like providing very good returns for your shareholders, um that may be something employees are going to sort of take into account in terms of whether they would go back to you know, the same company or whether they would tell their friends to work in that company and they’re much more savvy about our company’s greenwashing or sort of social good washing and saying, you know, talking the right talk but not really walking, you know, that walk. So, um, I think again, nonprofits really need to know what their competitive edge might be. Um, in terms of attracting workers and keeping workers because they’re dedicated to social good. But also what, you know, the, the issues might be if they’re not sort of um promoting the same type of values in their culture and not just sort of were a great organization for the environment, but we’re terrible to our employees. Like, you’ve got to really make sure your values mash,

[00:36:27.22] spk_0:
where else would you like to go routine? What would

[00:37:36.70] spk_1:
um you know, I was thinking just a few other quick points, you know, management and governance I think are also changing and that sort of goes with how employees, you know, want to be managed, want board of directors to sort of govern organizations, you know, our laws and the old and older structures are very hierarchical. Um You know, the board of directors sits at the top of the organization, they’re ultimately in control of all management and direction of the organization’s affairs. They delegated down to a CEO and executive director and executive director that is responsible for all the employees and there’s all these hierarchies of, you know, who gets to be responsible for. Um, and I think younger generations are much more into distributed leadership. Um, and it’s possible um to set up some systems within the law, the law is not completely sort of inflexible about this, but you’ve got to set it up in the right way. And so there is a balance of what some of the older people can tell you about the restrictions that are involved. But where the younger people could say these are the things that we really need. We, we don’t want just sort of one person dictating everything about the organization or a border that doesn’t know our day to day business coming and making huge changes that affects all of our work, you know, work lives. We need to have a voice in this and this is these are ways that we want you to consider it. So again, that’s

[00:38:00.26] spk_0:
what does that look like jean some a model of distributed leadership.

[00:38:42.81] spk_1:
So distributed leadership, maybe delegation from, let’s say, from the board down to the CEO and the CEO down to groups of employees and where the C E O S O is going, saying you’re responsible for this, you have the ultimate say on this. I’m not going to veto you as long as it’s, you know, within what are accepted framework is you get the ultimate say in this. If the executive director is questioning it, you know, it’s not the best business choice. They’re not going to overrule if that’s the basis of it, if it’s unlawful or something, because the director figures that out then of course they would have the power to overrule it. But, um, it’s not going to just be one person’s business judgment is going to be groups and that can work well. And that can also work terribly in a not great way as well. But younger folks are more attuned to that type of, you know, leadership model. We have to think about how it might work and how to fine tune it in a way that is acceptable and works well for an organization and, you know, and its board of directors as well to be comfortable with that,

[00:39:10.93] spk_0:
that could even be something on a rotating basis.

[00:39:59.58] spk_1:
Yeah, it can, it can be. But, you know, it actually, you know, one of the sort of big pros about this is, it gives collective thought to something that’s important where a lot of people get to put input that are intimately involved with the, that decision boards are sometimes somewhat removed because again, they’re not in the day to day, but this group of employees might actively day to day, be heavily involved with that particular issue and to give them decision making authority may feel them, you know, I’m going to use an old term, gives them ownership over the organization, they feel like they’re empowered and the organization is part of them and they are part of the organization. And that feeling is something I think that people desire. Um uh And again, management styles, governance styles are changing or, and the desire for more collaborative and distributed leadership is really a big force that I see coming in the next 10-20 years.

[00:40:43.03] spk_0:
How about fundraising, fundraising, sustainability? You know, you started to touch on both of those um our, our donor base and I’m the guy who’s, I’m the evangelist for Planned Giving. But we have to also acknowledge, I mean, look, the baby boomers are not all dead, you and I are living testament to that. So there is still valuing plan to giving fundraising. But our older folks, donors are being replaced by younger

[00:41:20.95] spk_1:
donors. Yeah. And I actually think so, you know, some charities are focused on plan giving with older donors, but millennials are kind of, they’re in their forties now, this is a prime time to have conversations with millennials who are, you know, you know, been privileged enough to have some wealth to think about in terms of giving the charity. And they have all this competition, as we mentioned, they could, you know, give it to go fund me or whatever form that you could try to develop that relationship now with them. And if you can, if you can develop and use the same tools that you engaged older folks and use some of those tools and bring in some of your younger folks that you previously engaged to be working for the organization as well so that they can have these discussions with donors for their peers and age. And I think that is very valuable so that, you know, I’d

[00:43:03.81] spk_0:
like to just put a point on it so that folks who know me and have heard me speak, you know, don’t think that I’m a hypocrite. Uh you know, in all the training I do, I’m talking about launching plan to giving and in launching planned giving. I think your, your time is best spent with folks who are 55-60 and over because they are the most likely to include you in their long term plan. I’m typically talking about wills. Um And they’re most likely that, uh they’re the most likely folks that will keep your gift in their will versus someone in their 30s and 40s who is going to live for another 50 years or so. That’s, you know, that’s a long, that’s a long time to be in someone’s will. So in launching, I, I, I think that the time is best spent talking to folks who are again, roughly 60 and over. But in, in out years of a program planned giving program, I can certainly see value in talking to folks in their thirties, forties. Um, the and, and doing that with, with peers. It’s, I, you know, it’s just, it’s as you’re suggesting there’s just uh there’s just a, a shared experience when, you know, a couple of 30 year olds are talking to each other versus me as a 61 year old consultant or even frontline fundraiser, talking to someone half my age about putting the organization in your will.

[00:44:13.19] spk_1:
Yeah. And I agree with your point, tony when you have limited resources and you’re starting or initiating a planned giving program that age set that you, you gave makes the most sense for you. Um But it is, it is another point just to stay, think about engaging younger people. Um And on both sides, on the staffing side and volunteer side as well as on your donor side. Um And you know, think about groups that you can develop long relationships with. So when you want to finally, you know, if, if you’re constantly engaged with them for the next 30 or 40 years, you, you really feel that gift is going to be fixed, but yes, they could change their minds at any time. So it sort of demands that you make sure that you strengthen that relationship, you’re after year versus not giving them any touches at all. And in the way they like so that be using Gamification, social media, like other ways that they want to be engaged, you’ll have to find not the way that you feel as easiest or cheapest to engage with your, you have to find what do they want? How do they want to be engaged.

[00:44:58.65] spk_0:
And this goes back to traditional lessons of fundraising that we want to be relational, not transactional. So you need to be relational with this upcoming uh cohort of generations, the ems and disease. Um because they are your future, your future major donors. If they’re not, now, they’re your future plan giving donors, they’re your future volunteers in retirement. I mean, you, you want to be this and this goes to the sustainability as well. You know, you want your mission to survive, you need to have a pipeline of donors that are not all 65

[00:46:13.65] spk_1:
and over. Yeah, and I’ll kind of relate fundraising to technology as well because, you know, our technology will dictate in some ways how we decide to fundraise. Like now we’ve got, you know, um we went from letter paper and pen sort of solicitations and in person contacts to okay emails and now emails are sort of we’re getting to a post email phase of like text messaging or, you know, and other forms now of communication. And how will that impact fundraising, crowd funding and other sort of platform type. Uh fundraising is now sort of encountering illegal uh barriers or restrictions or limitations. California being one of the first ones with laws that came into effect this year and regulations that will come into effect next year and that’s usually a harbinger of things to come in other states as well. So the laws are going to change, the types of fundraising vehicles are going to change non profits will be really wise to engage some millennials and Gen Z to understand where these things may go and how these laws may be influenced in terms of advocacy and, and, and making sure that, you know, one bad actor is not creating a whole bunch of restrictions that are going to impact like a lot of other charities that should never have been bothered by, by this

[00:47:52.06] spk_0:
artificial intelligence, understanding what it is, what its uses are, what the boundaries are. We’ve, we’ve seen some institutions make big mistakes. Um There was, there was a college that reacted to the shooting at Michigan State University with a, with a, with a chat GPT email and then, and, and it was disclosed because they didn’t even think to take out the disclaimer that said created by chat GPT, you know, and, and uh what I can’t remember what college that was that it was not Michigan State. They were, it was a college reacting to the Michigan State shooting. Uh and, and doing it very badly, I think it was, I think it was Vanderbilt University, one of the, one of the colleges at Vanderbilt University. Um and it was even a D E I officer who sent the email. So, you know, not even thinking about, you know, inclusive language on our own, but relying on artificial intelligence. So, you know, the boundaries of artificial intelligence, the creative uses of it. Um, you know, concerns about deep fake ai, you know, that stuff is, that stuff is all relevant and it’s, it’s coming, it means here, it’s here. Now. It’s not coming. It’s here. And if you want to capitalize on it appropriately, I think it, it pays to have folks who understand it best and they’re probably not 50 or 60 years old.

[00:48:50.08] spk_1:
Yeah. And I agree with you 100%. And again, wrapping this back around to charitable Itty, um, fake news. Um, is it charitable to distribute fake news? Is that just a viewpoint, is what we considered fake news 50 years ago? Something that actually is something that we think is generally acceptable now. Um, and isn’t charity supposed to be an incubator for these new ideas and, uh, changes? So it’s tricky. But again, we want to have multiple perspectives on this, not just sort of one generation’s perspective on this or just older generations perspective on this. We need to have the younger generation’s perspective because ultimately they’re going to be the ones that control that law

[00:49:09.09] spk_0:
that feels like a pretty good place to leave things. Uh, is there anything else? But I’ll give you, give you a last chance. Anything we haven’t talked about that, that you want to, we, we have time if, if there’s something else you want to engage on,

[00:49:49.72] spk_1:
um, maybe just my last thought is, um, for all the generations to respect, kind of what, what we all have to offer. And um this is not meant to be a criticism of older generations. Um uh It’s really meant to say let’s be more engaged. Um multigenerational organizations for sustainability, for understanding for perspectives and just to do uh our jobs uh in a way that’s uh aligned with our values and is as effective and efficient as possible.

[00:49:59.39] spk_0:
Gene Takagi, our legal contributor, managing editor of the wildly popular nonprofit law blog. You’ll find that at nonprofit law blog dot com. His firm is at neo law group dot com and Jean is at G Tak G T A K jean. Thank you so much for your wisdom.

[00:50:21.94] spk_1:
Always a pleasure. Tony Thank you.

[00:51:05.80] spk_0:
Next week, Matt Scott returns with his new book, The High Growth non profit If you missed any part of this week’s show, I beseech you find it at tony-martignetti dot com. We’re sponsored by Donor box with intuitive fundraising software from donor box. Your donors give four times faster helping you help others donor box dot org. Our creative producer is Claire Meyerhoff shows social media is by Susan Chavez, Mark Silverman is our web guy and this music is by Scott Stein. Thank you for that affirmation. Scotty B with me next week for nonprofit radio Big nonprofit ideas for the other 95% go out and be great.

Nonprofit Radio for June 13, 2022: Appealing To Tomorrow’s Major Donors

 

Nejeed Kassam: Appealing To Tomorrow’s Major Donors

There’s $50 trillion set to change hands in North America by 2050, enriching today’s millennials and Generation Z. Let’s talk about cultivation and fundraising strategies to reach these generations. My guest is Nejeed Kassam from Keela. (This is part of our coverage of #22NTC, hosted by NTEN.)

 

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[00:01:40.64] spk_0:
Hello and welcome to Tony-Martignetti non profit radio big non profit ideas for the other 95%. I’m your aptly named host of your favorite abdominal podcast. Oh, I’m glad you’re with me. I’d suffer with blended vaginitis. If you inflamed me with the idea that you missed this week’s show appealing to tomorrow’s major donors, There’s $50 trillion North America by 2050 enriching today’s millennials and generation Z let’s talk about cultivation and fundraising strategies to reach these generations. My guest is Najid Kassem from kila. This is part of our coverage of the 2022 non profit technology conference hosted by N 10 On Tony’s take two. Trepidation about new york city, we’re sponsored by turn to communications pr and content for nonprofits. Your story is their mission turn hyphen two dot c o And by 4th dimension technologies I. T infra in a box. The affordable tech solution for nonprofits. tony-dot-M.A.-slash-Pursuant Just like 3D but they go one dimension deeper here is appealing to tomorrow’s major donors. Hello and welcome to tony-martignetti non profit radio coverage of 22 N. T. C 2022 nonprofit technology conference hosted by N 10 with me now is Najid Qasem Ceo and founder of Kayla Najid, welcome back to nonprofit radio

[00:02:18.54] spk_1:
Thanks so much Tony and just for the folks that are listening because I might have a conflict I’m also on the board of directors at N10 and so really really proud to be part of the governance team at antenna and grateful to all of those of you who attended NTC this past, I guess almost a month ago now. Wonderful.

[00:02:31.14] spk_0:
Thank you for thank you for letting me know. We have Miko Whitlock and Jason shim. I have to see if they’re still on, but we’ve got, we’ve got Beth Kanter coming up. Um,

[00:02:32.86] spk_1:
I mean those are, those are my people, that’s my tribe. So you’ve got a great, great lineup coming up

[00:02:57.34] spk_0:
well. And you’re on the, you’re on the board of a terrific organization. Any sample ward is our technology and social media contributor. So she’s on many times a year sharing her wisdom on, on those subjects. We’re gonna talk about your seminar topic. Great transfer of wealth, how to reach the next generation.

[00:03:00.54] spk_1:
Absolutely.

[00:03:07.04] spk_0:
And you say you’re in your description that there’s a $50 trillion dollar transfer coming. What’s, what’s on the horizon?

[00:04:22.34] spk_1:
Well, you know, I think a lot of the topic is just about the fact that boomers and those, the generation, the great generations as I like to call them, are starting to, to, to find peace and move on to whatever happens in the next stage of our lives and you know, as well as they pass our grand, my grandparents passed away. Um, the last couple of years and you see that generation, my parents are starting to get older and thinking about the next, you know, the next chapter of their lives and so for those of us that are gen, x, gen y and I guess gen z is now, um, you know, a lot of money ultimately is going to transfer between generations, the boomers and their parents Postwar really generated absurd amounts, like, like, you know, unthinkable amounts of wealth and, and that’s all transferring and there’s a bunch of really interesting factors that are, that are going to change how giving is done. What’s gonna happen to that? Just the demographic, you know, general demographics in the United States and so, you know, a lot of money is going to change hands and, and that’s going to have a profound impact on getting because for a whole host of reasons we’ll talk about today.

[00:04:25.00] spk_0:
Yeah, So you’re expecting that millennials are going to grow the

[00:04:28.50] spk_1:
wealth that’s

[00:04:30.28] spk_0:
left to them. Well, if they spend it, then we’re hoping they’re gonna be giving it away because otherwise we have nothing to talk about it. If they’re all buying super yachts, then you and I may as well end right now, shut the mics

[00:04:43.04] spk_1:
off. I mean, for the sake of humanity, I really hope that they’re not just buying superyachts. How about that?

[00:04:49.40] spk_0:
Okay, right. Super yachts, private

[00:04:51.42] spk_1:
islands.

[00:04:53.18] spk_0:
You and I

[00:04:54.38] spk_1:
can’t possibly conceive of tony

[00:05:04.04] spk_0:
Okay, I hope not. I hope it doesn’t go that way. Alright. Otherwise, like I said, you know, you and I are done in three minutes. Okay, let’s go on the safe assumption on the humanitarian and um magnanimous assumption that uh, they’re gonna be giving a lot of this wealth away and, and they’ll be growing it too. Right?

[00:05:16.14] spk_1:
Absolutely.

[00:05:21.44] spk_0:
So you’re encouraging us to focus well before we get to the, you know, what to do, how to reach these folks.

[00:05:25.94] spk_1:
What

[00:05:41.94] spk_0:
are, what are some of these factors that you alluded to? Why are you expecting? Why? I think the, the estimates I’ve seen of transfer from baby boomers to millennials is not 50 trillion. I’ve seen 20-30 trillion or something like that. But you’re saying so in

[00:06:00.54] spk_1:
20, in 2014, um, um, For Boston College or some researchers at Boston College did a research and their prediction was 58 trillion would, would be transferred to the next gen. And that I think it includes gen x and gen y and ultimately gen z. So it’s not just millennials would be in the amount of 58 trillion, but when we’re talking 30 40 50 ultimately, I think it’s the same. It doesn’t really matter. It’s just a huge amount of money.

[00:06:28.14] spk_0:
It is. Okay. And so you’d like us to approach are younger donors Because we’re talking about, we’re talking about anybody 60 and under, where, you know, I

[00:06:41.44] spk_1:
would say like when does gen x start 50 and under maybe probably 55. I don’t know whatever gen x is. But yes, I think millennials are the the the most commonly, um, the most commonly thought about populist, But ultimately I think, you know, the age of the internet, the age of artificial intelligence, all of these kinds of things are, are, are ushering in new ways to engage donors. And I think that’s the crux of it.

[00:06:59.74] spk_0:
Okay, okay, now you’re using millennials and gen X interchangeably.

[00:07:18.54] spk_1:
No, No, No Gen X is what 1965-1980? Millennials are 1982, Some say 2000, some say 96. And then gen, Gen Z is people that are too young for me to think about.

[00:07:31.34] spk_0:
Okay, we’re not there yet. Um, Alright, what, what’s your, what’s your advice around talking to these? Um, millenials and gen xers?

[00:09:03.54] spk_1:
Yeah, I think you asked a great question previously and I’ll get to this question, but let’s talk about why they’re different because I think that’s really important to note. There’s a few factors that are, that are super interesting. The first one is, household sizes are smaller and you might think, why does that matter? Well, there are fewer millennials and gen Z s than there were their parents. And so between, I think it’s from 1962 around today or 2018 or whenever this data was published, Household size in the us has gone from 3.6 people per family to 3.1 people. Now that might be only half a person, but that’s a substantial number of people. And what it means is the people inheriting money are actually gonna be fewer, right in terms of their populace, but they’re gonna have more capacity in terms of their wealth. And so I think this data point is actually quite um, it’s interesting, it’s a little bit terrifying in some ways because you know, you’re gonna organizations, the sector as a whole is going to have to seek, you know, a a lot more from individual people as opposed to being able to diversify in the same way. I think that’s a very interesting piece of data and one that I think is going to change the dynamic, especially of major gifts because, you know, currently you think about the people, the high net worth individuals, the families, they care about health care or they care about this or there’s a lot of yours, Right? I think with that next generation there’s gonna be a lot of ants because there’s less people inheriting larger amounts of money. And I think excuse me, that’s quite profound. Don’t you think tony I

[00:09:25.94] spk_0:
do. I think I have a person, times tens, the many tens of millions of exactly that we have in this country that’s significant. Uh, you know, we’ve always thought of the average family as, you know, a family of four. All right, so you’re saying

[00:09:28.56] spk_1:
you’re

[00:09:41.34] spk_0:
saying the average is 3.6, but look 3.6 rounds to 43.1, barely, barely, barely three. So, you know, with 3.6 and four, 3.1 is a big difference.

[00:10:03.74] spk_1:
Absolutely. And think about it like this, if somebody, you know, earns $250 million over their life and they built a portfolio of real estate and wealth and influence ultimately. And they take that and they go to one kid, okay, let’s say each kid, you know, 100 25 million, but when one child is inheriting all that money, your major donor pool is ultimately getting smaller and and so now they have more power, they have more influence, they have actually ability to write bigger checks, but organizations are gonna have to do better at collaborating to generate these things because whether we like to admit it or not in the sector, tony

[00:10:20.21] spk_0:
Another, the other 125 million goes to the Super Yacht.

[00:10:23.84] spk_1:
Of course, sorry, tony slipped my mind. So

[00:10:27.56] spk_0:
there we are. So we’re done again again, we’re done. One kid and one super yacht, there’s your 250. Alright,

[00:10:33.59] spk_1:
You just you just cut generosity and a half and I think we started, Alright,

[00:10:37.34] spk_0:
let’s reduce the super yacht, you know, let’s say in

[00:10:40.44] spk_1:
70

[00:10:44.94] spk_0:
five, let’s do 75 million on the Super Yacht. Another 50. Another 50 to be very generous

[00:12:26.14] spk_1:
with. I’m gonna cut you off because I’d like to share a couple more pieces of data that are useful. The first one, is that, Is that migration has changed over the past kind of 30, 40 years Kids or kids in that 3.1 case right, families are actually staying more geographically close together. And that was especially heightened during the pandemic, where 52% of people aged 18 or 29 were actually at home with their folks in 2020. Now, if you look at data from Um, I think it’s 2004 is when it starts people, both seniors. And so like the parents of these boomers who many of them have passed now, but also the kids of these boomers are staying closer together, which means, you know, they’re more integrated into their families. And what that at least the research that we read and I understood or interpreted was that that can actually mean that maybe people are more aligned with their parents, beliefs or they’re more engaged with them? Or at least they certainly know their parents interests better. Now. The question we’re going to have to figure out is is that going to make them more likely to continue the legacies? Let’s say I I’m I’m let’s say there’s a high net worth family. Okay. And they’ve spent years giving to poverty alleviation? Well, these kids or kids that inherit this money because they’re closer to those parents, both geographically and, you know, in many other ways, are they going to continue that legacy? Are they going to rebel against it when they give? And it’s a question we don’t know the answer to, but it’s an interesting piece of data well,

[00:12:31.04] spk_0:
which also leads to, uh, you know, our our subject of appealing to these

[00:12:32.07] spk_1:
folks

[00:13:45.64] spk_0:
so that they don’t, by default, abandon the philanthropy of their, of their parents. I mean, they may do it consciously, but you don’t want it to just happen because you never gave it a shot to, to avoid it from happening. It’s time for a break. Turn to communications. They’ll develop your media strategy for you. What are the parts of that? It starts with identifying your core messages then defining those channels, those outlets where those messages ought to be heard. The places where you want to be known as a thought leader turn to will do the legwork to approach those outlets and as they close opportunities for you, craft your message appropriately to the specific audience you’re gonna be talking to. That is a media strategy. That’s what turned to communications can do for you because your story is their mission turn hyphen two dot C. O now back to appealing to tomorrow’s major donors because I want to keep talking about the trends before we get to the Yeah. And I think there’s one

[00:14:14.84] spk_1:
interesting one that we can’t forget and that’s women outlive men, um, by like, I think it’s like five years on average in the US now. So it’s like, that’s a, that’s like, you know, a meaty 56789% of people’s lives. Right? And so it’s interesting because unlike, you know, unlike, unfortunately similar to many other things in our history, you’ve kind of focused on like older white men that’s been like, you know, kind of it’s you see it in representation in politics on boards of directors and ceo position in funding for investments, whatever it might be.

[00:14:27.65] spk_0:
Call it what it is. We’re talking about sexism.

[00:15:27.04] spk_1:
Sure, look, I’m a person of color. I I don’t and my wife’s a person of color who is a woman. She has it way worse tonight. Right? And so the interesting thing is my wife’s gonna be gonna outlive me almost for certain. I mean for sure in my case, but, you know, demographically as well. And so philanthropy forget about just the transfer of wealth. The transfer of wealth is going to be inter mediated by the transfer from men who are dying at, you know, whatever 70 something to women who are probably dying 56 years later. And so philanthropy is going to be affected by the fact that decision making historically and giving has been made by the primary breadwinners. But as we see more women taking positions and leadership making more money. We see women inheriting money, they’re gonna give differently. And I don’t think we exactly know how that is yet. But that’s like I said, it’s like a stepping in the in the in the transfer, right? So I did a point that’s super relevant to this conversation.

[00:15:40.94] spk_0:
There is research about the way women give being different than the way men give. They want to be more involved. Uh, they were more involved in in how the money is used. Um, it’s less transactional for them. And uh,

[00:15:45.73] spk_1:
that’s interesting. I didn’t know that.

[00:16:06.54] spk_0:
Yeah. And um, they like, you know, they like to have more of a role in how it’s spent. Um, and it’s, yeah, I don’t, I think there’s, there’s other research to that. They like to be not only involved in how what their gift is is going to do, but be involved in the organization generally. So maybe they’re giving they’re giving what we’re talking about major donors, I think is what

[00:16:17.80] spk_1:
the research

[00:16:18.85] spk_0:
research is. Um, but they’ll also be, they’ll increase their volunteering with your

[00:16:23.94] spk_1:
organization, which

[00:16:27.64] spk_0:
may have nothing at all to do with their giving. Uh, they again, less transactional more, much more relational when it’s when

[00:16:33.69] spk_1:
it’s and I think what’s interesting is like, there isn’t much data on that yet, Right. Because of the demographic realities and the power dynamics that have been so, so unfortunate. And so you see

[00:16:44.44] spk_0:
like, Yeah,

[00:16:50.04] spk_1:
and that’s, I think you’re gonna see more of the research and ultimately more from that because it’s valuable, you know,

[00:17:00.64] spk_0:
the sexism in fundraising is, uh, I think long standing and obviously shortsighted, um, not just in fundraising, right.

[00:17:03.23] spk_1:
tony and everything, to be honest.

[00:17:05.64] spk_0:
Absolutely, yeah.

[00:18:37.84] spk_1:
But what’s interesting is there’s also been and I’m not, you know, I want to kind of move on because there’s also been quite a significant ageism in fundraising. You said it yourself, we spend, what is it 80% of our time on the top? 20% of donors? I think that’s the math that everyone teaches at fundraising school. Um, but what’s interesting is that’s shortsighted ultimately. Yes, I understand it completely. I really do. But what is interesting is, and this is something I touched on in my lecture 10 10 was, you know, the investment in youth giving has actually been minimal to be honest, because it hasn’t seen us providing as much instant return on investment, which is true. It’s a long game, not a short game, right? And but youth, the youth, especially in the context of this transfer of wealth, are going to inherit all that money. And if you haven’t laid your groundwork, you can’t suddenly show up at their door and young people giving even if they don’t have wealth yet or at all. But yet for the sake of this conversation is different. A couple of interesting trends. The first one is young people and I say this millennials I think is the research that I’m quoting are much more influenced by their peers. So young people, I think the data point is our 46% more likely to donate if a co worker does and 65% more likely to volunteer if a co worker does. That’s fascinating to me because it actually it’s a social activity in a weird way. You know, the power, you know, we’ll talk about social media maybe in a bit. But that’s interesting. The second data

[00:18:45.66] spk_0:
point. That’s Yeah. So that’s just that’s co workers, not even necessarily friends.

[00:18:51.84] spk_1:
I assume the data is similar for friends,

[00:18:55.34] spk_0:
friends giving up their birthdays, friends doing peer to peer campaigns.

[00:19:06.54] spk_1:
Well, I think, and I think I have a peer to peer data point that in my notes, let me just see if I can pull it up. I’ll see if I can find it. But let’s keep going. Yeah,

[00:19:12.64] spk_0:
Okay. But coworkers. That’s that’s quite an affinity for co worker giving.

[00:20:19.84] spk_1:
But and you know, we see it, look, I have a lot of young millennials in all my staff and they’re wonderful and amazing people and they’re definitely, you know, whenever something personal giving, that’s the other point. The second point, this is actually a nice segue giving us much more personal to millennial generation. And that has a couple of ramifications for example, to segue from our previous conversation When you know, we have, I think we have staff from 15 countries at Kayla um, on our team born who are born in 15 countries. And so, you know, whether it’s an issue area they care about or something happening in in a in a home or or former place of theirs, they share the plight and also opportunities to engage, right? I think this is a beautiful part of our culture because it helps, you know, But I can, I can watch this in action. I can see I’ve made donations because our coworkers feels an affinity or a passion or, or a sense of connection to a cause. And so, you know, I think that is interesting because I’ve watched it kind of firsthand, right, tony I think that’s super. That’s it kind of reinforces from a non data perspective kind of qualitatively exactly what this data point is showing

[00:20:51.14] spk_0:
interest. But I think, you know, what else, you know, uh, anecdotally I’m a young baby boomer and I’ve never done that. I’ve never given because a coworker gate, I mean I haven’t, haven’t had coworkers for something like 20 years, but back when I did for the short time that I did and I could stand being an employee of someone else. I, I never gave for that reason.

[00:22:47.24] spk_1:
Well, and I think the social media thing is, is I can’t find the data point and I apologize, but I think it’s essentially the same thing. It’s that folks are influenced, not in a bad way, but like folks are inspired is a better way to put it from their communities ultimately. And it’s not church or synagogue or mosque or united way as much or community centers anymore. It’s what they’re seeing on social media, what matters most of their friends and what that actually is kind of segue. Me too is that they’re giving is much more personal for millennials than it was. You know I say our generation I’m right at the cusp of being a millennial but I consider myself at least emotionally outside of it. And so things like organizational status, tax deductibility, organizational legitimacy are much less at the forefront of their decision making. They you know the rise of go fund me where people are giving to people directly the rise of um of of of not having the intermediary of an organization. Um the rise of not carrying the fact that they’re not going to get a tax receipt which is gonna offset a percentage of their donations. Millennials aren’t necessarily looking for that break or something tangible. They want that feeling of making an impact right? There’s a huge feel. It’s it’s why we see the rise of you know be corpse attracting more staff and the why that almost every millennial says when you’re looking for a job impact is a part of that calculus. And so you see those I’m gonna go out and say values of a generation applying themselves or or or or showing their face in giving in a very different way from from me and you and our parents and I think that’s very interesting.

[00:24:09.24] spk_0:
It’s time for a break. Fourth dimension technologies. Their I. T. Solution is I. T. Infra in a box it’s the I. T. Buffet, it’s budget friendly. It’s holistic. You pick what you need and you leave the rest behind the different components that are available. I. T. Assessment, multi factor authentication for security, other security methods, cost analysis of where you’re standing, what you’re spending money on the help desk and there’s more you choose what’s right for your I. T. Budget for your I. T. Situation as it exists. Like they’ll help you fill the gap between where you are and where you want to be. That’s the I. T. Infra in a box. Fourth dimension technologies tony-dot-M.A.-slash-Pursuant D. Just like three D. But they go one dimension deeper. Let’s return to appealing to tomorrow’s major donors. Let’s turn to what nonprofits can do to huh exploit this and using exploitation as in a non pejorative sense. Take advantage of or

[00:24:09.64] spk_1:
C the opportunity I think.

[00:24:15.14] spk_0:
Yeah in the data and then the and then the trend.

[00:24:17.12] spk_1:
Yeah.

[00:24:18.01] spk_0:
And you know I think enormous wealth transfer. So let’s talk about the

[00:26:02.74] spk_1:
really low hanging fruit like the most boring fruit that you could possibly and and and that’s like you know when high net worth individuals give for major donors for major giving. Excuse me as major donors. They don’t see it as I. Samuel l smith is making the donation. It’s me the smith on behalf of my family. The smith family. It’s a family. There’s so much of that family legacy idea and so when organizations are so privileged to get those kinds of donations don’t just look at Sam look at SAm’s wife and look at Sam’s kids and make those connections with the family and that’s for two reasons. One, it’s the right thing to do. Super obvious. But to it’s actually laying the groundwork for, for relationships in the future, share the impact being made, engage the families, the kids. Especially because if you want to get another gift, if you want to, you know, create opportunity from that, it’s going to happen likely either when the donor dies and his or her wife does it or husband, but much more likely their kids continuing that legacy. So engage with them. Like that’s not hard. It’s like, you know, bring them, bring them in, engage them, take them out to lunch instead of just the major donor or the couple or whatever it is. It’s an easy thing to do is encouraging families to come and come around recognizing the families, not just the person and then offering entry points for the kids to um, to engage the organization as volunteers. You know, we talked in the, in the lecture and, and Nathaniel gave a great example about youth councils and, you know, bringing on kind of communities or boards of youth. Often the kind of, yeah, kind

[00:26:08.60] spk_0:
of advisory like

[00:26:09.50] spk_1:
engagement boards I think would be the best way to put it. But yeah,

[00:26:13.03] spk_0:
I’m,

[00:26:15.91] spk_1:
I’m just in our notes, we call them like youth, hold on. I’ll find the exact term we used.

[00:26:22.30] spk_0:
I

[00:26:22.64] spk_1:
think they’re called youth councils,

[00:26:24.24] spk_0:
you’ve counted. But what you would call them for the folks. Youth council,

[00:26:27.60] spk_1:
right?

[00:26:40.94] spk_0:
You want that, you want that perspective in your, in your event planning, certainly in your event planning, but in your fundraising, you know, you may, you may not be thinking of peer to peer well,

[00:26:41.52] spk_1:
and that’s actually my next point

[00:26:43.60] spk_0:
Are in their 30s and 40s, you may not be taking a peer to peer campaigns.

[00:28:54.04] spk_1:
And I have a feeling a big part of there’s a, there’s a symbiosis between that data point on giving from coworkers and peer to peer. So peer to peer kind of had a lot of sex appeal a few years ago, and then people were like, is it that valuable? I’m here to say peer to peer is phenomenally valuable, but not necessarily because people think it is or thought it was. I think a lot of people thought, oh, it’s gonna spike our donation. I’m in it for the long game here. To me, Pierre, Pierre is an entry point to engagement with an entirely new group of donors. I think the numbers in the 80% of people who give through a peer to peer campaign are first time donors to the cause. And, and if you don’t store them effectively, which we can talk about later or on another show or I’m sure you have really qualified folks talking about it, you’re gonna lose that donor to bring them into your giving ecosystem as an organization, but they are an entry point where somebody else is doing the lead generation for you, right? Ultimately that giving about coworkers, I give to every single period of your campaign. One of my staff’s writing in a, you know, um, cycling in an event or running a race or I don’t know whatever it might be. That’s an entry point. That’s an entry point. And it’s an entry point to diversify your donor base to access new donors to get your giving list up and, and we all know in the space, the donor retention is a lot cheaper than donor acquisition. Every data, like there’s absurd amounts of data that show that and peer to peer is a great example and, and it’s how you engage a generation and I’m gonna take it a step further. Millennials like to feel agency, they want to be part of something that goes back to that feeling that personal nature of it. When you get folks engaging with peer to peer, what you’re doing is not just getting money. You’re, you’re, you’re building advocates right? Like the youth council, but much more scalable, ultimately right. You’re getting perspective, you’re building advocates, you’re, you’re finding new ways to get into communities and you’re ultimately empowering social media to do the work for you and why wouldn’t you do that? And I think it doesn’t have to be a big event or a race. It can be, you know, that we can use peer to peer much more creatively to, to think about the long term opportunities, does that make sense? tony I

[00:29:21.34] spk_0:
had a guest, yes, it does have a guest who used the example of a local animal shelter they hosted a dog wedding for and, and you know, again an event to attract younger donors and, and it was phenomenally successful. I know you said it to my

[00:29:44.94] spk_1:
staff, they would all go like all these, it’s just, that’s a lot of them have dogs and you know, you know, it is what it is and it’s, it’s wonderful for them cause a lot of them are having kids, right? tony look at that number kid that 3.6 to 3.1 that someone’s not having Children and so, but that’s a way to encourage an entire demographic, you probably would, wouldn’t get to otherwise. I think that’s brilliant. It’s brilliant.

[00:29:51.44] spk_0:
Her other idea was a bark mitzvah.

[00:29:53.74] spk_1:
I’m

[00:29:57.81] spk_0:
trying

[00:29:59.08] spk_1:
to make a joke with mazel tov like,

[00:30:04.45] spk_0:
like

[00:30:05.12] spk_1:
it’s there, it’s there,

[00:30:19.34] spk_0:
it was all about to share that with her. Um, yeah, very good, very good, very good. Um, yeah, as somebody who thinks that the only good puns are the ones that I think of, but I thought I thought bark mitzvah was very good, yes muzzle top outstanding, very good, very good. Alright, tony I told

[00:30:28.50] spk_1:
you I have now been a dad for two years and so my dad joke. This is just, it’s, it’s coming, it’s rising, you know?

[00:30:40.34] spk_0:
Well you’re still just approaching it because is very good. When the jokes start to be about your genes, you know, then then then they’re then they’re tired. They’re

[00:30:47.42] spk_1:
tired. You’re

[00:30:59.84] spk_0:
just you’re just approaching but but you’re still in the you’re still in the humorous category and not high rolling. You’re not, you haven’t, you haven’t transcended into the eye rolling. Alright.

[00:31:00.18] spk_1:
There’s two more topics I want to touch on briefly before we run out of time.

[00:31:17.24] spk_0:
We have time. Okay. Wait, are these still in the category of what nonprofits can do to, to attract and appeal to and or steward, you mentioned stewardship I want to, you know what be doing do talk

[00:32:23.04] spk_1:
about? I think there’s two factors that we all that. So I I don’t know if this is a do and bring me back onto shore if you need me to. But let’s talk about family foundation and donor advised funds for a second because engaging both of these things is actually critical to capitalizing on the opportunity of of the transfer of wealth. So, you know, for whatever tax reasons, right. A lot of folks might build family foundations or or engage with staff so that they can receive the tax benefits on the event of some kind of liquidation. Whatever it’s selling the company or having a windfall or whatever it might be. But what’s interesting is two things to think about the first one is how are we thinking about that as part of the transfer of wealth? Like what can we do with that? And the second one is, that’s a give now benefit or, you know, benefit other communities. It’s like give now from a tax perspective, give later for the organizations. And so to me, I think laying the groundwork engaging family foundations or high net worth individuals early as that process is starting is going to be super valuable because folks could pass with dispersement quotas very low, at least in Canada. And I think in the States they’re relatively low as well.

[00:32:39.16] spk_0:
Yeah,

[00:33:40.24] spk_1:
5%. So I think Canada just went from 3.5 to 5% in this past budget last week. Actually, well, exactly because their foundations, right. But yeah, so, but the thing is those are, those are like grounds for giving, you know, from a generational wealth because ultimately the kids might be forget about being involved, tony the kids might be actually driving that even when their parents pass on, so the gift has been made, but the, but the, but the beneficiary hasn’t benefited yet. And so it’s this liminal state that if we forget about as organizations and I speak as a board member of six nonprofits or five or whatever the number is, we’re losing an opportunity as part of this transfer of wealth. So laying the groundwork starting to build relationships with both the foundations and the daft or the daft, depending on the structure, getting the kids involved in other ways. Like peer to peer, I think, not forgetting the family foundations and the daft components to generational transfer would be shortsighted.

[00:37:02.03] spk_0:
It’s time for Tony’s take two. I’m returning very shortly To New York City for two weeks. In fact, as you’re listening to this, I’ll be in the city And you know, I lived in the city for 15 years, but I’ve got some trepidation about returning. Um and I don’t think that my situation is any different than yours. You know, returning to old Patterns, old places, it might be an office, might be returning home after having been away through the pandemic. That’s my situation. I haven’t been in New York City since early March 2020. And so things on my mind do I remember how to get around on the subway. I feel like that’s like riding a bicycle. Um I don’t think I’ll get on too many uptown trains when I want to go downtown, but you know, the familiarity, the old alacrity, the smoothness, the comfort, it’s not quite there. I’m gonna have to check check my subway map app more often than I used to where you know, I used to just pop downstairs. Oh yeah, it’s right this way pop pop pop. I know the turn, I know which uh entrance I wanna use. I know exactly where to stand waiting for the train. I don’t have that, that level of comfort anymore. And Covid of course, You know, I did see that. Covid rates are declining in Northeast. But I mean new york city is still a huge city densely populated. So we got some trepidation there. I’m gonna have to be more scrupulous about my masking than uh, than I am here in this little beach town in north Carolina. And then the other part is just, you know, identity. I was a new yorker for 15 years And yes, I, I moved out of New York six years ago. So it’s not, I didn’t move out because of the pandemic. I left several years before, but for two weeks, I don’t know, can I be a new yorker again for two weeks? Is that that allowed? Am I a tourist? I don’t know. I’m, I don’t think I’m an expat new yorker living in north Carolina. I don’t feel like that. No, but am I a tourist returning for two weeks? Interesting. What’s, what’s my identity? How do I fit in former resident? Not, you know, that that’s somewhere higher cash than tourist returning resident, but just for two weeks. So interesting. You know, and I’m sure that you have got lots of these kinds of thoughts going on as you return two old patterns, old places That’s Tony’s take two. We’ve got boo koo, but loads more time for appealing to tomorrow’s major donors with najid Kassem by the way. You’re on five boards, you were dismissed from one of the boards. I’m not at liberty to reveal at this time, but you’ll, they’ll be in touch with you.

[00:37:11.43] spk_1:
Good to know. tony I’ll expect the letter.

[00:37:14.13] spk_0:
Now the donor advised funds and the foundation. Yeah, very good. But when I said, when you know the kids are involved now, um, ultimately, I mean the kids may have already taken over, but ultimately when their baby boomer parents have died, then the kids are gonna be involved, especially in the family

[00:37:38.83] spk_1:
legally required to, to make disbursements. So if you haven’t gotten on the ground game now In 5, 10, 15, 20 years when there are these huge amounts of money, which they constantly have to be giving away, you’re gonna be behind the eight ball and that’s unfortunate position for folks to begin

[00:37:59.33] spk_0:
good. Yeah, no good advice. And that is right in line with what nonprofits can be talking about can be thinking about and and likely acting on. So yes, now you’re, you’re still in that you’re still in the, you’re still in the game.

[00:38:13.82] spk_1:
I’m still, I wanted to end at some point with five weird facts about legacy giving that I found, which I think you would really enjoy. I

[00:38:22.12] spk_0:
probably will. Let’s not, it’s, it’s not the show though. It’s still tony-martignetti non profit radio So hold, hold back with the, with the anarchy and we’ll get, we’ll get to the five points. we still have plenty of

[00:38:27.56] spk_1:
time

[00:38:31.02] spk_0:
alright, the five, five idiosyncrasies maybe of plan giving or legacy giving as you call it.

[00:38:34.79] spk_1:
And I think which is relevant obviously in the transfer of wealth conversation of course. What

[00:38:49.12] spk_0:
about what about more advice about thinking about acting on younger the younger generations, millennials generation, z you mentioned stewardship, what are we talking about? So

[00:38:51.08] spk_1:
I was just, I was just gonna go there and talk about

[00:38:52.72] spk_0:
community.

[00:39:56.92] spk_1:
So, so I think one of the pieces of advice that Nathaniel especially gave is like the post gift engagement, especially in peer to peer. And I thought that was really interesting because, and it’s two kinds of post of stewardship, the stewardship of the donors who give to peer peer campaigns, which is valuable and we talked about expanding the donor base, but I think what she really drummed down on is how important it is to actually engage with the fundraisers, the folks who are actually doing the period, like, you know, who are the, you know, for those of you who don’t know a peer to peer, you have a group of fundraisers who raise money for the cause and donors make donations in support of those fundraisers and the money goes to the organizations, but the fundraisers, they’re kind of like your champions, right? They’re the ones who are casting a wide net who are sharing and promoting, who are engaging their social media’s and I think one thing that we often forget is to thank the fundraisers, we do a good job of thanking the people with the money fine and maybe we don’t do good enough a job but you write a check general, you’re gonna get a thank you. But the fundraisers are actually your access to market their your go to market strategy, so to speak and so

[00:40:03.19] spk_0:
you’re right. They created the campaign.

[00:40:05.66] spk_1:
Absolutely. They did all your work for you

[00:40:15.91] spk_0:
birthday, whatever. Yes. Yeah. Are we are we are you seeing that? Are we bad at thanking the fundraisers? We are we

[00:41:37.01] spk_1:
are um it’s very automated, it’s thanking for signing up more than thank you for what you’ve done. So a lot of like the impact or or community reporting people often forget the fundraisers and there’s you know, we’ve seen that anecdotally, we’ve seen that with our product and I’ve seen that in some of the research as well. And so where you know, Nathaniel gave this great example, I’m trying to remember but she said send a personalized impact report to the things that the fundraisers care about because generally when you’re signing up as a fundraiser for a peer to peer campaign, you give insight into the things you care about the reasons you’re doing. My mom, you know, my grandmother passed away from acts or my you know, my my aunt did this or or someone at my work struggled with that. And so you’re gonna get some insight into what they care about and if you want them to run these things again to do it participate next year or in subsequent years to get more involved as a donor themselves or a volunteer that follow up is so valuable and make and spending the time Doing it for for each of them, even if it’s 10 minutes, you know, make a call, put their name on an impact report, it’s so little in terms of cost or time, but the value of the return and ultimately that feeling of values align, which was, you know, I’ve tried to come through, come up over and over again through the, you know, this conversation about millennials, they’ll feel valued, they’ll feel values aligned and ultimately it’s the right thing to do, but but also it will help you getting them to get engaged in other ways or or

[00:41:56.31] spk_0:
again. Yeah, Alright, very smart, very savvy. I’m disappointed to hear that we’re not being good about the fundraisers. It’s I

[00:42:17.30] spk_1:
think it’s easy because there’s lots of them and it’s hard because we’re not used to it. Right, peer to peer is relatively new, it’s not built into the muscle memory of us as fundraisers and I think that’s yeah, a lot of organizations, especially mid to large ones are actually getting peer to peer officers now. So you know, you’ve got your major grant donor officer or program manager, you got your recurring donor, you got your peer to peer now because the R. O. I. S. Is so strong both from a brand perspective and from the donation perspective. Right.

[00:42:24.33] spk_0:
Very good. Thank you. All right. When you said you had I think you said you had to

[00:43:45.90] spk_1:
I think I think the stewardship one is interesting and it actually comes to you know again it’s that personalization element what what millennials want to hear however you’re engaging them if they’re the kids of high net worth if they’re part of peer to peer campaigns or if they’re just giving in general as part of the transfer they want to see much more intimately or much more directly what’s happening with the money? Right. What are you know the older generation is like how much are you spending on administration? That’s actually a lot less. They don’t care as much and you can see that because of how they’re giving, what they care about is what actually happened to that money. I don’t care if you use 13 cents or 18 cents or 23 cents for administration. How many malaria nets was I able to get from that or you know what value did my gift or my time bring to the cause that I care deeply about and that subtle difference in stewardship is actually quite substantial in how you treat it. So you know it’s not a budget or or or a financial document that you’re sending as part of stewardship it’s a lot around stories around data on impact and and around around making them feel like they were a part of that, which I think is quite different from what we saw in this boomer and other generations. What do you think? tony

[00:43:50.96] spk_0:
Yeah, no, I agree. I think there’s been less attention to that.

[00:43:56.00] spk_1:
It’s

[00:43:56.78] spk_0:
been it’s been growing, but the boomers are probably dying at a faster rate than they can, they can gain the they can gain the benefit of. I’m one of them, I’m happy to be a younger one.

[00:44:32.29] spk_1:
But but I also think it goes back to the values which we’ve sort of been talking about, right, that different reason for giving, right that the reason people millennials take certain jobs or do certain things or engage with certain, you know, community activities or civil society, it is different. And if we don’t steward differently with that, we’re not only missing an opportunity. We’re kind of not meeting folks where they are.

[00:44:34.29] spk_0:
Look, if, you know, if you’re ignoring this, the difference in the generations, you’re, you’re doing so at your peril. You know, you’re, you’re ignoring critical difference is that there’s a difference between your 70 year old donor and your 40 year old donor

[00:44:48.88] spk_1:
and I don’t want your old donor and

[00:44:51.30] spk_0:
You’re 25-30 year old donor

[00:44:53.59] spk_1:
absolutely and I don’t want it to be like we’re just doing this to get more money. Like as much as that’s easy to do. You want to connect like it’s the right thing to

[00:45:14.49] spk_0:
do. Yeah. Including families has always been, especially in planned giving, but it’s, it’s just, it’s just smart. It’s just smart business, um, engagement, which leads leads to more, more, greater impact, whether it’s volunteering or giving or just thinking well of your cause.

[00:45:23.26] spk_1:
You know, you

[00:45:24.25] spk_0:
know, I don’t give to the organization anymore, but they were very good to me when my mom died,

[00:45:30.19] spk_1:
yep.

[00:45:35.29] spk_0:
All right. All right. The Big five now giving, I will, I, I prefer the phrase planned giving so I’ll tolerate, I’ll not accept, but I’ll tolerate your legacy giving moniker.

[00:45:46.49] spk_1:
This kind of, and I’m gonna type

[00:45:49.97] spk_0:
each

[00:46:47.28] spk_1:
of them back to the conversation we’ve had today. So this isn’t out of nowhere. So first data point is 50% of like of, of planned donors give to their organization for more than 20 years before making a planned gift. So when we talk about engaging folks If you’re 45 or 50 right now, you’re part of that gen x or you’re, you know, you’re an elder millennial. If the, if the data point stays strong 20 years, it’s gotta start now, You know, if you want. And that, that’s why this transfer of wealth is super interesting. Number two donors, aged 44 older represent about 75% of all wills and more than 80% of the total value of all charitable requests made. So again, 44 is a young, it’s, you know, it’s not, we’re not talking people in their seventies when people are thinking about their wills, their thinking about the, when their kids are still in single digits often, right? Like, you know, we, my wife and I did our will when she was pregnant. We didn’t have a will before that, but we, you know, we did our, our will our wills. I guess there’s two of them

[00:46:52.80] spk_0:
was donors, 44 and over represents 75% of all existing wills

[00:46:58.73] spk_1:
and more than 80% of the request

[00:47:07.58] spk_0:
And more than 80% of all right. I guess I’d like to see a finer breakdown. Like that’s 44 and over. You know, What’s, what is 60 and over look like

[00:47:10.18] spk_1:
and I don’t have that off my fingertips. But I would bet it’s even it’s the vast majority. I

[00:47:14.95] spk_0:
would bet I

[00:47:33.48] spk_1:
would bet again, Absolutely, absolutely. Number three, 50% of donors age 50 and over with no Children had charitable estate plans, but among similar donors With Children, only 17% had philanthropic plans. That one was actually quite interesting to me.

[00:47:41.08] spk_0:
Yeah.

[00:47:42.58] spk_1:
So

[00:47:43.91] spk_0:
your, your folks with no Children are better plan giving prospects than your folks with

[00:47:49.55] spk_1:
Children and

[00:47:50.57] spk_0:
There’s, there’s a difference of 33%.

[00:47:56.28] spk_1:
Absolutely, yeah. In terms of the number of them that have wills. Right, Which is fascinating.

[00:48:01.27] spk_0:
That’s the population is have a charitable request in there

[00:48:07.50] spk_1:
will be 30

[00:48:14.67] spk_0:
3% if you’re, if you’re 55 and over, No, 50 and over, You’re 33% more likely to do it if you’re 50 and over and have no Children than you are if you’re 50 and over and had at least one child.

[00:48:36.57] spk_1:
Yes, absolutely. And again, why is this relevant? Because in this transfer of wealth, more and more people are inheriting money who don’t plan to have kids. Right. And that’s super interesting and incredibly relevant. Um,

[00:48:38.77] spk_0:
You know what, that’s even, it becomes more interesting even on another level, because yeah younger folks are less likely to have kids from the current 55 year

[00:48:48.91] spk_1:
olds. So

[00:48:54.57] spk_0:
assuming human nature isn’t, isn’t changing then that the Delta is gonna change between between the population, that doesn’t have Children in the population. That does, because the population that doesn’t have Children is going to grow up.

[00:49:16.17] spk_1:
And you look at that first data point where most people are gonna make requests to folks that they’ve engaged with for 20 plus years. that’s again relevant because more people are not having kids. So you got to engage them earlier. Because if you do the likelihood of you getting a request is, is going to be like you said, the Delta is going to be higher and higher. Right? Very

[00:49:28.23] spk_0:
interesting. And

[00:49:52.27] spk_1:
ultimately Planned gifts from single, never married donors are actually 13% larger than from married donors. So it’s interesting is, again, how do you focus this? This is, this is part of the lecture he gave on like how do you focus your time? Of course, you have unlimited resources. You focus on everybody. But thinking about folks who haven’t been married, um, or are no longer married and without kids, you’re gonna get bigger donations. Right? And, and that’s super interesting. Especially in the context of people not having kids. A lot of this transfer is inter mediated by that,

[00:50:07.06] spk_0:
that those have always been your best planned gift prospects, folks who are unmarried and no

[00:50:11.65] spk_1:
Children.

[00:50:23.46] spk_0:
Um, not to not to exclude others from your program. If you have the, if you have the luxury of knowing who has Children and who never married and a lot of that, you can just find out from, uh,

[00:50:26.19] spk_1:
social media.

[00:51:04.96] spk_0:
Well, yeah, that’s true. Um, then then those are your, those are your, you’re ultimately best prospects. And thank you for using the word Penultimate correctly. I appreciate that so many things. So many people think that penultimate is is the better one comes after the ultimate because its penultimate. So she correctly, thank you for using Penultimate, it’s among my favorite words along with, but the ultimate, it’s the

[00:51:11.86] spk_1:
Ultimate, the Bark Mitzvah. Ultimately Pet owners are 70% more likely to give request than non pet owners.

[00:51:15.06] spk_0:
Pet owners.

[00:51:33.86] spk_1:
So free will, which is a will’s website in the US. It like helps folks create their wills. Did some really interesting data around the charitable giving of pet owners and folks who have pet owners are much more likely to make requests, 70% more likely than non pet owners. So I have no idea how to use that piece of data, but it’s so obscure and so interesting that I included it as my factoid and I’m sharing with you

[00:51:46.06] spk_0:
for folks who are in a, in an animal oriented non profit you know, they know

[00:51:48.68] spk_1:
that a lot

[00:51:49.97] spk_0:
of pet owners are very concerned about the life of their pets after their own deaths.

[00:51:55.36] spk_1:
So

[00:51:56.60] spk_0:
they’ll make, they’ll often make

[00:51:58.39] spk_1:
gifts for

[00:51:59.55] spk_0:
the care of their

[00:52:29.65] spk_1:
pets. Interesting. I, I think what’s interesting is going back to millennials and the demographic data that we’ve seen as most folks, you know, a lot of people who don’t choose to have Children choose to get a pet. It’s like a pretty common, you know, trend, I think. And so, you know, that’s interesting because there they still have a lot of love and they’ve made a choice which is so personal and they want to continue a legacy, Not just for their pets, for what you said, but rather just in general. And so they see their way to, to continue. They don’t have Children. So their legacy is gonna live through their gifts. And I think that’s, that’s, again, speaking to the 3.6 to 3.1 number of people in the household and that number continuing to, to change.

[00:52:49.05] spk_0:
Thank you very much.

[00:52:51.52] spk_1:
Let’s

[00:52:59.35] spk_0:
let’s take care of a couple of things when it first, don’t you shout out to Nathaniel Fung, since you mentioned a few times, So

[00:53:24.35] spk_1:
was was my co presenter on this. Um I got to give a lot of the nerdy theory that I shared with you all today, but Nathaniel did a phenomenal job of sharing the case studies that she’s done. She spent a lot of years, decades I think, working in health foundations and health giving and she just brought incredible examples of youth councils and examples of campaigns and how they started them. And so it was, it was an absolute treat to, to speak alongside her.

[00:53:32.65] spk_0:
Nathaniel is director of philanthropy, where at

[00:53:32.82] spk_1:
the BC Women’s Foundation

[00:53:34.75] spk_0:
Women’s hospital

[00:53:36.48] spk_1:
british Columbia, women, women’s hospital, where my son was born.

[00:53:41.35] spk_0:
And Kayla, you give it a shot for Kayla,

[00:54:30.04] spk_1:
I mean, always happy to, to to serve such an incredible institution um for those of you who don’t know, Kayla is, is fundraising um intelligence and donor management tools, built, you know, with the most powerful, exciting technology. But built by fundraisers myself, being just one of many and ultimately our goal is to help folks, you know, have a great um donor management experience, to help increase the predictability and to help nonprofits grow. They’re giving it’s a Crm, it’s an intelligence tool. It’s got beautiful and amazing forms you can pick and choose if you want crm, you want forms, you want intelligence. But ultimately it’s a it’s a technology company with the sector at its at its core and I encourage everyone to to always take a look at kayla k e l a dot com.

[00:54:37.34] spk_0:
Dot com, awesome dot com. Very good. Look

[00:54:38.81] spk_1:
at

[00:54:43.18] spk_0:
dot com. It definitely rhymes what? Almost com

[00:54:49.84] spk_1:
Alright.

[00:54:52.84] spk_0:
And he’s the ceo and founder, thank you very much for sharing your ideas.

[00:54:55.18] spk_1:
tony always a pleasure and hope to see you. Hopefully not two years from now, maybe before that.

[00:55:00.40] spk_0:
No, thank you. Well, will you be in you think you’ll be in Denver if it’s actually live?

[00:55:05.47] spk_1:
Yes, yes I will. Next.

[00:55:06.74] spk_0:
NTC 23. NTC I believe I’ll be there too. All right,

[00:55:10.81] spk_1:
wonderful. Thanks. tony

[00:56:29.54] spk_0:
my pleasure and thank you listeners for being with Non profit radio coverage of 22 NTC. Thanks so much. Next week, It’s your RFP process as our 2022 non profit technology conference coverage continues. If you missed any part of this week’s show? I beseech you find it at tony martignetti dot com. We’re sponsored by turn to communications pr and content for nonprofits. Your story is their mission turn hyphen two dot c o And by 4th dimension technologies I T infra in a box, the affordable tech solution for nonprofits, tony-dot-M.A.-slash-Pursuant four D just like three D. But they go one dimension deeper. Our creative producer is Claire Meyerhoff. The shows social media is by Susan Chavez. Marc Silverman is our web guy and this music is by scott Stein. Thank you for that. Affirmation scotty Be with Me next week for non profit radio Big non profit ideas for the other 95 go out and be great.