credit: keithusc

Under 50? Then you’re not likely to be donating to your alma mater in 2011.

• The recession hit everyone hard – including nonprofits and foundations. A study by The Chronicle of Philanthropy shows that big donations were way down in 2010, due mostly to fears about a “double-dip” recession and confusion about tax laws.
• But so far in 2011, the economy is looking more stable and the tax code has finally been clarified. This may be the long-awaited make-up year for nonprofits that rely on funding from philanthropists.
  
• Importantly, the study also revealed generational changes in giving styles. None of the big donors who made the list under 50 years of age donated to colleges or universities. Instead, they preferred to fund education, medical, human rights, and social entrepreneurial ventures.
  

Facts & Figures

• Of Forbes magazine’s top 400 wealthiest Americans, only 17 appeared in the Chronicle of Philanthropy’s list of the most generous 54 donors
• 9 people on the list donated more that $100 million in 2010, compared with 18 donors in 2006
• The top two donors on the list were 80-year-old hedge-fund manager George Soros ($332 million) and New York Mayor Michael Bloomberg ($279.2 million)
• Mark Zuckerberg, the youngest donor to ever appear on the list, came in 10th place ($100 million)

Best Quote

“I can think of no less needy charity than Harvard. I have to struggle to think of anyone in my age group who has given big money to a traditional charity.” – Philanthropist Whitney Tilson on the new generation of philanthropy

What do you think?

Do you support the same causes as your parents? Do you give to the same organizations as your friends?

Tags: demographic shift, philanthropy