Cultural institutions across the United States were already suffering from the fear that the rising generation of philanthropists is not that interested in the arts. Then, the sources of philanthropic funding were thrust into the spotlight. With three months until the launch of the Arts Funders Forum in Miami Beach, these events require deep discussion and exploration.
The world of philanthropy will be heavily shaped by the greatest intergenerational wealth transfer in history, with tens of trillions of dollars passed down in the next half-century. Estimates vary about how much of this wealth will find its way to charity, but one report estimated that transfers to Gen-Xers and millennials over the next decade alone could yield more than $20 billion a year in new grants to nonprofits. Where will all that cash go?
Melissa Cowley Wolf and host Erik Gensler talk about the findings of a recent survey conducted by the Arts Funders Forum and M+D, including millennial giving behaviors, how the cultural sector can engage new donor classes and why collaboration and transparency are critical to the success of the arts in the 21st century.
We hope you will contribute your intellect, experience, energy, and enthusiasm in support of this mission. By working together, we can turbocharge arts giving, create new pipelines for private investment, and have a more direct and positive impact on society for decades to come.