February 9, 2015
There’s been a lot of interest in researching millennials, the largest generation, particularly when it comes to how they impact nonprofits.
There’s been a lot of interest in researching millennials, the largest generation, particularly when it comes to how they impact nonprofits.
This generation is different from its predecessors that it trusts institutions and traditional methods of giving to social causes, explained NPR. It’s also a sizable pool of individuals – 80 million people by some estimates – interested in making a lasting change, and they’re reaching a point where they’ve got money to spend on charitable causes.
One of the biggest changes facing nonprofits and foundations is the way they reach out to millennials. Language plays a big role in how charitable organizations attempt to engage this demographic. Among many millennials there’s a sense that they need to contribute to a cause based on obligation, explained Amy Webb, forecaster of digital trends for nonprofit and for-profit companies. Millenials would be more likely to say they’re “investing in,” rather than “donating to” a cause. What’s the difference? Webb said there are two parts of the word that differentiate from the act of contribution. On one hand, there’s the financial aspect of investing money in an organization, but there’s also a strong sentiment of being involved with passion. But the ways nonprofits engage millennials is markedly different than with previous generations.
According to the Pew Research Center, 75 percent of this generation indicated they have a profile on a social network. This means that philanthropic groups have an entirely new platform to reach out to donors. Traditionally, membership organizations and nonprofits have relied on direct marketing tools to get in touch with donors. This approach is largely a one-way conversation where the nonprofit organization provides information and hopes for a response.
Social networks, on the other hand, are multi-directional communication tools. They allow large numbers of people from diverse backgrounds and geographies to hold active discussions. This gives nonprofits an easy way to participate in, or even start, conversations with potential donors.
According to Pew Research, nearly 40 percent of millennials were enrolled in college when the 2008 Census survey was conducted. As a result, they’re the most educated age group in the history of the U.S. There’s also a significant portion of the millennial population that entered into graduate studies. Part of the reason for this stems from the fact that the Great Recession left millennials with few choices in the job market.
According to “The 2014 Millennial Impact Report,” this generation tends to prefer communal volunteer projects than giving to a specific campaign. When the study was conducted, as much as 55 percent of millennials had volunteered in the past month and 46 percent had donated $1,000 or more during the previous year. However, all of these activities were preceded by research into an organization.
Eighty-eight percent of millennials donated to a nonprofit in 2013. Charities need to recognize the impact of this group and the cultural shifts underway in the giving community, especially when they develop fundraising strategies. Traditional donation channels and outreach likely won’t bring as strong of a return on investment as in the past.
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Working with Marshal Whittey at First Nonprofit has been a great experience. He handles our request as a priority and goes above and beyond to resolve any issues we have in a timely manner. Marshall follows through to the end and ensures our needs are met. He has been a great resource for LSC and our “go to” for any tax questions we may have. With LSC transitioning several facilities into one federal tax identification number, First Nonprofit was able to assist and provide guidance with best practices resolving claims to each entity. Additionally First Nonprofit provided knowledge (information materials) and one on one training to HRS group with best practices to handle claims state adjudicated, fraudulent claims, and appeals. And processing information in the First Nonprofit [unemployment claims] system allows for timely information can be collected.
My experience with FNP has been wonderful. Unemployment in general is quite confusing and FNP has simplified the process for us. Everyone we have reached out to or worked with has been very helpful and follows up to be sure we understand the information. I am so happy we made the switch to FNP!
First Nonprofit smoothed the unemployment perils for our organization during Covid. Without the ability to cap our UI exposure, we would not have been able to weather the storm. The program worked perfectly and we have come out of the pandemic ready to forge on. Thanks FNP!
My experience with the FNP has been fantastic. The idea of setting funds aside for the unemployment tax liability is a bedrock for nonprofit organizations like mine, namely ASHBA; what is even more advantageous is having the FNP as a custodian of those funds. 100% recommended!
I would like to comment on my experience with FNP….to date our District has saved $1,000’s of dollars by being enrolled in the First Nonprofit program. My only regret is that we did not know about this method of paying unemployment tax years ago….as I had figured about five years
ago, had we enrolled 15-20 years ago, we could have saved our small school district upwards of $500,000 in payments to IDES. Also we would have had a pretty hefty sum of money in our Reserve Account. Thankfully I attended a workshop hosted by First Nonprofit back in 2015 which got the ball rolling!
I have worked with the First Non-Profit Team for many years, and I appreciate the quick response and care that Cecilia and the team provides anytime I have questions. While there are other providers that may provide like services, First Nonprofit will always be my first choice! I appreciate you!
First Nonprofit has been easy to work with and makes the administrative process easier and smoother. We enjoy working with you.
Luckily for us, our interactions regarding any issues with staffing has been very minimal! I can say that all other interactions with regards to billing, 941 reporting, etc. have been extremely pleasant, accommodating and easy to work with. Kim Ghanayem is always prompt, professional and friendly. Thank you so much!