“NextGen donors are driven by strategy and impact first,” noted Sharna Goldseker, Executive Director of 21/64, a non-profit consulting practice specializing in multigenerational engagement in philanthropy. At a recent Jewish Communal Fund Advisors Network Breakfast for T&E attorneys, accountants, wealth managers and other advisors to high net worth families, Sharna shared research from #NEXTGENDONORS, a groundbreaking research study focused on the next generation of major donors. She emphasized that while the majority of Gen X and Gen Y donors are motivated to give based on values they learn from parents and grandparents, they are primarily driven by the impact of their charitable giving as well as “hands on” volunteer experiences.
Ms. Goldseker then moderated a lively panel discussion highlighting the panelists’ philanthropic journeys and many ways in which advisors can better engage the next generation of charitable donors. Next Gen panelists included Eddie Bergman, Executive Director of Africa Travel Association and Co-CEO of E&E Hospitality Group; Jenna Segal, President of Segal NYC Productions, and Michael Stern, Partner at Stonehill Capital Management. For advisors working in a multi-generational context, being presented with the next generation’s perspective was especially helpful.
Each panelist shared personal experiences and anecdotes that lead them to discover their own philanthropic strategies and distinguish themselves in the world of charitable giving. From recognizing the value of a JCF Bar Mitzvah Fund, to organizing volunteer trips to Africa while still in high school, to taking existing institutions and transforming them to meet the needs of the next generation, the panelists described how they learned from their respective families and then discovered on their own how to give back to society.
The panel concluded with the Next Gen panelists providing insights and advice to their advisor counterparts, noting that empathy, respect for all involved, and mentorship are the keys to retaining the next generation.