What You Need to Know
- Forty-six percent of people surveyed said they had used newer ways of giving this year.
- Fifty-seven percent of millennials reported donating via newer channels, versus 49% of Generation Xers and 34% of baby boomers.
- Two-thirds of participants said they sometimes feel they do not give enough, including three-quarters of both millennials and Gen Z.
Social media and digital tools are profoundly influencing how Americans give to charity, Wells Fargo reported Thursday.
Forty-six percent of participants in a recent survey said they had used newer ways of giving this year: 35% donated through GoFundMe, 19% clicked social media donation buttons and 16% gave directly to web entertainers and information sites, such as Wikipedia.
Fifty-seven percent of millennials in the survey reported that they had donated via newer channels, compared with 49% of Generation Xers and 34% of baby boomers. Age aside, 79% of respondents said they appreciate newer ways to give.
If there is a downside to this trend, it is that the sundry options to give and higher expectations to be charitable increase pressure on Americans. Half of survey participants said they find it hard to say no when someone asks them to give.
What Your Peers Are Reading
These include 62% of Gen Z and 58% of millennials.
Versta Research conducted the national online survey in mid-November among 811 U.S. adults.
The survey identified ways in which the pandemic has affected people’s level of charitable giving. Fifty-seven percent of participants said it has changed their giving levels: 46% are giving more because of the pandemic, and 11% are giving less.
Two-thirds of participants said they sometimes feel they do not give enough, including three-quarters of both millennials and Gen Z.
“Almost everyone surveyed say that giving makes them feel good, and the pandemic has accentuated opportunities to give,” Arne Boudewyn, head of family wealth and culture services at Wells Fargo Bank within the wealth and investment management division, said in a statement.
“In addition to reporting monetary gifts, it’s also heartening to see nine out of 10 try to practice random acts of kindness. Philanthropy isn’t always about money, but often is simply a mindset.”