A great article was shared with us about the changes happening in philanthropy and how nonprofit boards aren’t prepared to take on the next generation of donors and trustees. As Millennials start entering the philanthropic world, what does that mean for the current state of of the boardroom?
Excerpt from Boards Are Not Ready For Next Generation of Trustees by Rick Moyers:
In their report, “Next Gen Donors: Respecting Legacy, Revolutionizing Philanthropy,” the philanthropic consulting firm 21/64 and researchers at the Johnson Center for Philanthropy at Grand Valley State University describe next-gen donors as driven by personal values, often those transmitted from their parents and grandparents, and motivated primarily by a desire for social impact rather than a sense of obligation or a need for recognition.
The article goes on to talk about dysfunctional boards and the idea that even good performing boards are often uneven. No, adding young people to your board won’t be enough to fix the dynamics on your board. Engaging Millennials fully is the most important piece of the puzzle.
“We need the values, skills, and resources next-gen donors can bring. To engage them, nonprofit boardrooms need to become welcoming places where real work gets done. Nonprofit executives need to get better at tapping the expertise and networks of their trustees. And boards need to have more serious conversations about impact.”
The next generation of leaders is emerging quickly – is your organization prepared to take on and engage them on your board? Engaging young people on your board in the correct way is imperative. Organizations need to focus on providing a good experience or a next-gen board member could become put-off by board service entirely.
Read more about the importance of engaging the next-gen donors (people in their 20s & 30s) in the article!
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