Thursday, August 8, 2013

Boomers Dominate Nonprofit Income Sources

Philanthropy Today reports: 
Baby boomers now give the largest share of donations to charities, surpassing every other age group, including the generation born before 1946, says a study released today.

Boomers make up 34 percent of the pool of donors, but give 43 percent of all money contributed by individuals, the study found.

“Baby boomers are now the dominant source of income for most nonprofits,” says Mark Rovner, a principal at Sea Change Strategies and the study’s primary researcher.

Together with the generation born before 1946, he says, they are responsible for the vast majority of giving to charities. The study, which is based on self-reported data, found that the two groups together are responsible for nearly 70 percent of the estimated total annual giving to charities by individuals.

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