The Millennial Generation and Philanthropy: The Time for Engagement is Now
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2017-06
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MA in Arts Administration
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Abstract
The Millennial generation is now the largest living generation of people in
the United States, surpassing the Baby Boomer generation in size. It also has the
greatest buying power of any current generational group. Most arts organizations
primarily target the Baby Boomer generation which has the most expendable
income, but increased investment in the cultivation of the Millennial generation
will be beneficial to arts organizations. A high percentage of Millennials currently
give to nonprofit organizations, and while their gifts are smaller than those made
by Baby Boomers, they add up to have a significant impact on organizations. By
creating relationships between organizations and their Millennial audiences, arts
organizations can develop giving habits that could create a gateway for larger
donations in the near-future and for decades to come.
Existing arts organizations that currently have programs and development
strategies which embrace the Millennial generation are explored for models of
success, and examples of challenges. Interviews and case studies, personal
observations by professionals in the field, and peer reviewed research studies
are considered to formulate reasonable strategies that can be used by
organizations of all sizes.