The world of philanthropy will be heavily shaped in coming years 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 last year estimated that transfers to Gen-Xers and millennials over the next decade alone could yield more than $2o billion a year in new grants to nonprofits. Where will all that cash go?
Melissa and Erik 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 adapt to engage a new donor class, and why collaboration and transparency among arts institutions, funders, artists, and communities, 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.