In this donor-focused, data-packed episode of The First Day from The Fund Raising School, host Bill Stanczykiewicz, Ed.D. is joined by Jon Bergdoll, Interim Director of Data and Research Partnerships at Indiana University's Lilly Family School of Philanthropy, to break down the latest findings from the 2023 Bank of America Study of High Net-Worth Philanthropy. Now in its 20th year, the report offers a close-up on the giving habits of households with $1M+ in investable assets or incomes over $200,000.
The numbers tell a nuanced story. While total dollars donated by high-net-worth households remain strong, the percentage of those households giving annually is slipping, a continuation of the “donors down, dollars up” trend seen in the broader population. Volunteering, meanwhile, is bouncing back post-pandemic, now at 43% (up from a 2020 low of 30%) but still below pre-2020 levels. These donors continue to prioritize religion, education, and human services, and they’re increasingly aligning their financial choices, spending and giving alike, with their values.
Local impact matters. Over 70% of high-net-worth donors report giving to causes in their own communities, compared to 32% giving nationally and just 13% internationally. Spontaneity still plays a role, roughly 85% of donors say they sometimes or always give when asked or in response to emerging needs, but effectiveness is key. Donors want to know their gifts are making a difference. Use of giving vehicles like donor-advised funds, private foundations, and IRA distributions is slowly rising, with nearly 1 in 5 affluent households now leveraging at least one structured giving mechanism.
This year’s report also introduces five philanthropic identities: Steadfast Supporters, Devout Donors, Entrepreneurs, Changemakers, and Philanthropic Experts. These profiles offer fundraisers a practical way to understand donor motivations and tailor outreach accordingly.
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In this donor-focused, data-packed episode of The First Day from The Fund Raising School, host Bill Stanczykiewicz, Ed.D. is joined by Jon Bergdoll, Interim Director of Data and Research Partnerships at Indiana University's Lilly Family School of Philanthropy, to break down the latest findings from the 2023 Bank of America Study of High Net-Worth Philanthropy. Now in its 20th year, the report offers a close-up on the giving habits of households with $1M+ in investable assets or incomes over $200,000.
The numbers tell a nuanced story. While total dollars donated by high-net-worth households remain strong, the percentage of those households giving annually is slipping, a continuation of the “donors down, dollars up” trend seen in the broader population. Volunteering, meanwhile, is bouncing back post-pandemic, now at 43% (up from a 2020 low of 30%) but still below pre-2020 levels. These donors continue to prioritize religion, education, and human services, and they’re increasingly aligning their financial choices, spending and giving alike, with their values.
Local impact matters. Over 70% of high-net-worth donors report giving to causes in their own communities, compared to 32% giving nationally and just 13% internationally. Spontaneity still plays a role, roughly 85% of donors say they sometimes or always give when asked or in response to emerging needs, but effectiveness is key. Donors want to know their gifts are making a difference. Use of giving vehicles like donor-advised funds, private foundations, and IRA distributions is slowly rising, with nearly 1 in 5 affluent households now leveraging at least one structured giving mechanism.
This year’s report also introduces five philanthropic identities: Steadfast Supporters, Devout Donors, Entrepreneurs, Changemakers, and Philanthropic Experts. These profiles offer fundraisers a practical way to understand donor motivations and tailor outreach accordingly.
In this lively and eye-opening episode of The First Day from The Fund Raising School, host Bill Stanczykiewicz, Ed.D., is joined by Rachel Gerrol, founder and CEO of NEXUS Global, and her COO Liza Heavener, to pull back the curtain on the philanthropic habits of Gen Z and millennials. NEXUS Global isn’t just another networking group, it’s a global movement with 6,000 members across 70 countries representing $650 billion in family wealth. What started in a modest UN conference room has become a peer-led, agenda-free space where the next generation of high-impact givers connect, collaborate, and catalyze change. As Rachel puts it, they didn’t plan a movement, but “accidentally birthed” one.
Bill dives into the critical takeaway: fundraisers can't afford to keep thinking of millennials as college kids in shared apartments. They're homeowners, parents, and yes, major donors. But here’s the kicker, these next gen donors don’t wait for titles or trust funds to make a difference. Their influence in family philanthropy is real and potent. One heartfelt suggestion from a grandkid can steer six-figure giving. Rachel and Liza emphasize that ignoring these influencers just because their name isn’t on the board is like leaving money, and meaningful connection, on the table.
But don’t come at them with your checkbook hand outstretched. Liza and Rachel stress that authenticity and values-alignment are the name of the game. These donors crave genuine relationships, not transactional asks. They want to do philanthropy, rolling up their sleeves at volunteer events, engaging in learning journeys, and sitting at intimate salon dinners, not black-tie galas. And please, ditch the glossy mailers, they’ll hold up that $10 invitation and wonder why you're wasting donor dollars. The advice is golden: ask for advice, and you might get a gift. Ask for a gift right away? You might never hear from them again.
The episode wraps with a call to action: nonprofits must evolve not just in how they ask, but in how they operate. Today’s donors look at everything through a values lens, from where you host your gala to how you bottle your water. And forget traditional silos, Gen Z and millennials blur the lines between philanthropy, investing, and entrepreneurship. They’re collaborative, global, and impatient. They want results, impact, and purpose, not pomp and circumstance. So fundraisers, ready or not, the future is here... and it’s bringing a values-based, story-driven, influence-wielding donor with it.
First Day Podcast
In this donor-focused, data-packed episode of The First Day from The Fund Raising School, host Bill Stanczykiewicz, Ed.D. is joined by Jon Bergdoll, Interim Director of Data and Research Partnerships at Indiana University's Lilly Family School of Philanthropy, to break down the latest findings from the 2023 Bank of America Study of High Net-Worth Philanthropy. Now in its 20th year, the report offers a close-up on the giving habits of households with $1M+ in investable assets or incomes over $200,000.
The numbers tell a nuanced story. While total dollars donated by high-net-worth households remain strong, the percentage of those households giving annually is slipping, a continuation of the “donors down, dollars up” trend seen in the broader population. Volunteering, meanwhile, is bouncing back post-pandemic, now at 43% (up from a 2020 low of 30%) but still below pre-2020 levels. These donors continue to prioritize religion, education, and human services, and they’re increasingly aligning their financial choices, spending and giving alike, with their values.
Local impact matters. Over 70% of high-net-worth donors report giving to causes in their own communities, compared to 32% giving nationally and just 13% internationally. Spontaneity still plays a role, roughly 85% of donors say they sometimes or always give when asked or in response to emerging needs, but effectiveness is key. Donors want to know their gifts are making a difference. Use of giving vehicles like donor-advised funds, private foundations, and IRA distributions is slowly rising, with nearly 1 in 5 affluent households now leveraging at least one structured giving mechanism.
This year’s report also introduces five philanthropic identities: Steadfast Supporters, Devout Donors, Entrepreneurs, Changemakers, and Philanthropic Experts. These profiles offer fundraisers a practical way to understand donor motivations and tailor outreach accordingly.
