Generous Gen Y: Giving and the Quarterlife

The issue of charitable giving and our generation is one that is difficult to measure for several reasons:

1. Generation Y is still so young a demographic that the full scope of their philanthropic giving can’t be measured until history can confirm it.
2. The ability of our generation to contribute financially to society is not what it would be given more favorable economic conditions.
3. “Charitable giving” encompasses a wide range of behaviors and activities (such as volunteer  work) that can’t be limited to finances, thus making it more difficult to measure. For example, I made a campaign contribution in 2007 that is documented as required by law, and so it can be measured. But you’ll just have to take my word that I regularly take outdated possessions by Goodwill and occasionally treat homeless men to lunch with my friend, Isabelle. Okay, that was once.

I will do my best to do this topic justice with my opinions and interpretations of data:

First, I will discuss the volunteering aspect of charitable giving across demographic groups. In recent years, it has been found those individuals between the ages of 35 and 44 volunteer at the highest rate (31.3 percent in 2008). Individuals in their early 20s were surprisingly the least likely to volunteer at a rate of 18.6 percent (1). I say “surprisingly” because at this age we seemingly have fewer obligations of time and finances – but we also tend to be preoccupied with other aspects of life such as school, career-building, finding a mate…or just partying like rock stars.

As of 2008, there was an increase in the volunteer patterns amongst individuals ages 16-19, and I find this significant, partially because there are a number of institutions that are encouraging these behaviors (1).

For example, at the high school level, there is the National Honor Society which requires a certain amount of volunteer hours to remain in the organization which of course looks excellent on college applications.

Additionally, an increasing number of scholarship programs are requiring a certain amount of volunteer hours in order to qualify for financial aid. Another interesting factor related to volunteering patterns is marital status and family.

Married individuals volunteer at a rate that is higher by approximately 10 percentage points, and individuals with children are also substantially more likely to volunteer (1). These trends also help us to understand the lower rates for Generation Yers as many of us have not yet reached these milestones in life.

Finally, individuals with higher levels of education are likely to volunteer at higher rates as well. So while the initial finding is that individuals in their early 20s currently volunteer the least, it is likely that in 10-15 years we will be more apt to do so.

Another factor relating to both financial and action-based “giving” is measured in religiosity. One source shows how later generations are less likely than our predecessors to contribute to religious institutions, which have served as a vital source for charitable activity in the past. Our generations are less likely to be actively involved in those organizations, and we are more likely to contribute to secular purposes or simply “to make the world a better place (2).”

It is also significant to note the impact the Internet has had and will continue to have on charitable giving – making it quicker and easier for individuals to donate to what they consider a worthy cause. Nearly every interest website has the option of making a contribution, and even small contributions to a number of organizations add up rather quickly.

I don’t believe it’s fair to judge our generation by financial contributions because it is only reasonable that individuals in our demographic have not reached a level of comfort that is conducive to making charitable donations. However, based upon the small amount of research I’ve come across in addition to my own perspective and beliefs, I come to the conclusion that although currently limited by our circumstances, our generation will exceed others in both action-based and financial contributions.