According to the Center on Wealth and Philanthropy, millennials stand to inherit $59 trillion in their lifetime. This massive wealth transfer will be the greatest in U.S. history.
Naturally, as an affluent generation controlling such a sizable amount of wealth, there is an opportunity for Generation X, Millennials and now Generation Z to be the most philanthropic our country has ever seen. Armed with such substantial assets, who knows what the Next Gen will be able to accomplish?
Next generation donors generally see philanthropy as an ongoing act that is initiated from the beginning of their careers as young adults, as opposed to their parents who believe in the philosophy “save every penny”. Millennials want to roll-up their sleeves and offer their time, knowledge and connections, not just their money.
Nonprofits generally don’t have the bandwidth to create these hands-on programs for next generation philanthropists with their limited staff and resources. Tarrant County is in need of a philanthropic resource for young givers to turn to.
The Community Foundation of North Texas saw a need for this program in our community and launched WORTH: The Next Generation of Philanthropists in October 2015. This innovative program will help ensure that local nonprofits have a pipeline of knowledgeable donors that understand effective charitable giving.
Just as civic leaders might invest in developing a well-educated workforce because it reaps measurable economic benefits, WORTH will produce a pool of savvy givers who understand how to best support a thriving nonprofit community. WORTH is a membership group that helps participants learn how to envision their legacy, find their philanthropic passion, assess where resources should be allocated and more.
WORTH members attend a series of exclusive events where they receive insights from philanthropic leaders in the Fort Worth community. This sequence of engaging events educates next generation givers about how to become a more charitable giver now, and how to become a philanthropic leader in the future.
Membership dues are placed in an endowment fund at the Community Foundation and will provide funding for causes WORTH members deem suitable indefinitely. In turn, their gifts are matched dollar-for-dollar so that members can then make a significant, collective grant to a charity of their choice.
Led by a steering committee, WORTH members will increase the impact of an individual donor by awarding grants through a collaborative process. This unique opportunity allows next generation givers to experience a grant cycle and achieve greater charitable impact by working together.
It is never too early to become a philanthropist and help satisfy the needs in your community. Young adults and new families have the opportunity to initiate their own giving traditions and begin creating their legacy.
Want to get started? Become a member of WORTH and join us for an exclusive happy hour at the Fort Worth Zoo with some very special guests. You’ll hear from Ramona Bass, one of North Texas’ legacy leaders, about the discovery of her philanthropic passion. And we’ll mingle with a few of her not-so-tame friends. The deadline to become a member of WORTH and attend this member-only event is December 9.
For more information or to join WORTH, contact Stephanie Baker at 817-877-0702 or firstname.lastname@example.org.