In an earlier post, we told you that women are attracted to generous men. Some other research also proves that women are involved in charitable giving more than men. Now, a new research has identified millennial women as the most likely donors to spontaneous charitable giving, like crowdfunding.
Fidelity Charitable, the largest collection of donor-advised funds in the United States, released the results of this study in May. Its aim was to study giving attitudes, strategies, and priorities across generations and gender. Among the women donors, the study found some marked difference in how and where they donate.
Common giving habits of baby boomer women were:
- Non-financial gifts, like furniture, clothes, toys, etc, to organizations
- Financial donations to nonprofit organizations and
- Sponsoring people (those participating in races for fundraising for a nonprofit)
Meanwhile, the millennial women’s giving choices included:
- Point-of-sales giving, like in donation boxes at checkout counters of malls
- Buying products from socially responsible businesses/social enterprises
- Helping out an acquaintance in need directly
- Participating in workplace fundraisers
- Contributing to crowdfunding campaigns
- Participating in donor circles (a group of people who pool in their donations and decide collectively about how to utilize the amount collected)
The report says that both the groups of women view their charitable giving as a part of their identity and a means to bring social changes. However, the causes espoused by the younger group of women are more inclusive. Most of them support multiple causes, while the older ladies support only a few selected ones.
Also, the former group mobilize more giving to organizations they support. They influence people in their network and men in the family to donate to them as well. The Baby Boomer women, however, don’t speak much about their giving habits.
Another interesting finding of the study was women’s emotional connect to the causes they support as opposed to men’s motivations of ‘strategic’ advantage. These advantages include benefits like tax rebates. Ironically, women are more likely to involve experts or financial advisers in their decision making process. Men, on the other hand, take the advice of family and friends in such matters.
All this proves that millennial women are the ideal donors to approach for a crowdfunding campaign for social or personal causes. In fact, they can become your very own evangelists if they find your cause worthy enough.
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