Client LoginRequest an Introduction
About UsWhat We OfferClient StoriesInsightsLocationsIn the Lead
Request an IntroductionClient Login

About Us

Influential people and institutions across the globe rely on Goldman Sachs to support them in all they do. Learn more about us, our purpose and our commitment to clients.

We look forward to beginning a conversation to help you achieve your objectives and make the impact you desire.

The following questions will help us determine the right team for you.

0

Something went wrong, please try again later.

Engaging the Next Generation in Your Philanthropy: An Overview for Donors


Introduction

“America’s next generation of major donors, whether young Gen Xers or rising Millennials, will have an outsized impact on society and the planet we share…if current trends in wealth and giving continue, these rising major donors will be the most significant philanthropists ever.”-Sharna Goldseker and Michael Moody, “Generation Impact: How Next Gen Donors Are Revolutionizing Giving” 

We are living in an extraordinary time

Some philanthropic experts call this the Golden Age of Giving, “a new era that will exceed in size and influence the Gilded Age of a century ago, when modern philanthropy was invented.” According to a recent study by the Boston College Center on Wealth and Philanthropy, over $59 trillion will be transferred across generations between 2007 and 2061. The study estimates more than $27 trillion of that amount will be designated for philanthropic purposes over the same time period. 

How does this next generation of Gen Xers and Millennials think about philanthropy? And how can families prepare for this transition of wealth and charitable purpose to the next generation? This publication is designed to help you think through six key questions related to engaging the next generation in your family philanthropy: 

  1. Why should you engage the next generation in your philanthropy? 
  2. How do the next generations think about philanthropy? 
  3. How can you encourage the next generation in their philanthropy? 
  4. How can you transmit your values (and not just your assets) to the next generation? 
  5. How do you manage different philanthropic preferences between generations? 
  6. How can you keep the next generation engaged in philanthropy? 

Before engaging the next generation in philanthropy, it is essential to clarify your mission and values related to your own philanthropic work. We encourage you to review several Goldman Sachs Philanthropy Fund publications that address these topics as resources.

We recognize that each family is unique and has unique circumstances related to engaging the next generation of their family in philanthropy. We hope this paper will help you think through how best to approach transitioning philanthropy to the next generation. 

To read full report, click here.

This material is intended for educational purposes only and is provided solely on the basis that it will not constitute investment advice and will not form a primary basis for any personal or plan’s investment decisions. While it is based on information believed to be reliable, no warranty is given as to its accuracy or completeness and it should not be relied upon as such. Information and opinions provided herein are as of the date of this material only and are subject to change without notice. Goldman Sachs is not a fiduciary with respect to any person or plan by reason of providing the material herein. Information and opinions expressed by individuals other than Goldman Sachs employees do not necessarily reflect the view of Goldman Sachs. Information and opinions are as of the date of the event and are subject to change without notice.

© 2023 Goldman Sachs. All rights reserved.

Goldman Sachs & Co. LLC is registered with the Securities and Exchange Commission (“SEC”) as both a broker-dealer and an investment adviser and is a member of the Financial Industry Regulatory Authority (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”)