What are the philanthropy trends driving the future of giving?
Around the world, many people rely on philanthropists to continue living in the way that they are currently. While the lives of strangers are not the responsibility of the wealthy, many have become accustomed to receiving generous donations from those who can give. So, what does the future look like for philanthropy around the world? Below, are some of the philanthropy trends that are driving the future of giving.
Large donations less frequently
One of the main trends that is setting the tone for the future of giving is the fact that many philanthropists are offering larger donations but much less frequently than before. This makes it harder for those who are receiving the money to manage as they might have been expecting regular donations in the past. While this shouldn’t have too much of a negative impact on those receiving the money, careful planning needs to be done.
Social conscience
According to reports, younger donors are looking for investments that will make a positive impact, rather than simply giving to charitable causes. In Rebuilding You: The Philanthropy Handbook by Tej Kohli, you will see that giving with a social conscience can be a viable option. Millennials are said to be looking for social entrepreneurism and are seeking out causes that they think will have a longer-term positive impact. This trend is one that could really shift how philanthropy works in the future.
Strings attached
Another trend that is driving forward the future of philanthropy is larger donors taking over from the smaller or mid-level donors. While this might not sound like a problem at first, it does come with some issues. It appears that the larger donors are offering a lot of money, however, there are some strings attached. These funds need to be allocated in a certain way and this can cause problems for those who are used to managing their donations themselves.
Use of technology
Finally, you’ll find that technology is being used much more in philanthropy around the world. The use of crowdfunding sites is opening the doors for philanthropists who want to donate as much as they can. Technology allows for important causes to get the coverage that they need, and it is certainly driving forward the future of philanthropy. Crowdfunding has been growing dramatically over recent years and we expect this to be the case in the future.
What’s next?
Philanthropy is very important to many causes around the world and so making sure that it continues to happen is very important. These trends show what philanthropists are doing right now but don’t guarantee that they will be doing this in the future. Based on these trends, people can predict what might happen and map out a strategy for the future of these organisations and non-profits. Who knows what the future of philanthropy might look like?
The editorial unit
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