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GENERATION IMPACT

HOW NEXT GEN DONORS ARE REVOLUTIONIZING GIVING

 

 

SHARNA GOLDSEKER

MICHAEL MOODY

 

 

 

 

 

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To Owen, Sasha, Logan, and Adrienne—the next “next gen

PRAISE FOR GENERATION IMPACT

Generation Impact profiles a new generation of philanthropists and demonstrates how they could influence society more than any generation to come before them – making this a book relevant to readers from all walks of life.”

Charles Best
Founder, DonorsChoose.org

“Anyone who participates in philanthropy – whether as supporter or recipient – needs to understand the profound changes that are being led by a new generation of donors. The fascinating first‐person essays in this book, along with the keen analysis and commentary by authors with deep personal experience in the field, offer new and important insights into the minds of the young donors who will help shape philanthropy's future.”

Mark Kramer
Founder and Managing Director, FSG
Visiting Lecturer, Harvard Business School

“This book makes me feel good knowing the rising generation is poised to fix all the things. Yay, young people!”

Nancy Lublin
CEO, Crisis Text Line
Former CEO, DoSomething.org
Founder, Dress for Success

Generation Impact: How Next Gen Donors are Revolutionizing Giving, by Sharna Goldseker and Michael Moody, shines a powerful, inspiring spotlight on today's most significant and promising characteristic of American philanthropy—the energy, innovation, and determined quest for impact of Gen X and Millennial donors. This beautifully‐written, long overdue book is peopled with an engaging array of young women and men, often speaking in their own names and voices, who are already doing great good for society and who, if history is any guide, are likely to lead America's philanthropic sector to its most impressive impact‐achievement ever! This book is guaranteed to send soaring the spirits of anyone who cares about the present and future of America's civic sector today.”

Joel L. Fleishman
Author, The Foundation: A Great American Secret—How Private Wealth is Changing the World
Professor of Law and Public Policy, Duke University

“Goldseker and Moody pull the curtain back from the broad terms of “Next Gen” and “Millennial” to help us see the real personalities and lives of those who are using their wealth to change the world. While previous generations and mainstream finance think in “either/or” frameworks of making money or giving grants, these new century fiduciaries operate within an understanding of blended value and seek to structure their capital to generate various levels of financial return with social and environmental impact. Generation Impact profiles a diverse set of actors seeking their own paths to being responsible asset owners in support of our world's most promising changemakers.”

Jed Emerson
Founder, Blended Value Group

“With great abundance comes great responsibility. In Sharna and Michael's stunningly important book we have a deep and learned look into how (with “engagement”) and why (“to achieve impact”) Gen Xers and Millennials are becoming today's philanthropists. Give yourself the gift of knowing what to expect as you engage with emerging philanthropists from these cohorts. Join these authors as they bring to life the motivations, actions, and philosophies of giving of these remarkable, dedicated philanthropists who expect to help solve the social, economic, political, and cultural issues of the past and present, and who want to lead us toward a magnificent future for our planet and its peoples. I am sure that many of my silent generation cohort will love learning about the feeling of engagement and passion for impact among these young philanthropists.”

James (Jay) E. Hughes, Jr.
Author, Family Wealth: Keeping it in the Family, Family and The Compact Among Generations
Co‐author, The Cycle of the Gift, The Voice of the Rising Generation, and Family Trusts

Generation Impact is a thoughtful, astute exploration that shows how new and established families can engage with the next generation to regenerate family philanthropy, deepening their legacy and broadening their impact.”

Melissa A. Berman
President, Rockefeller Philanthropy Advisors

“This is awesome! A must read. The authors Goldseker and Moody have given voice to a generation of philanthropists who are already beginning to change the face of giving. However, they do much more – they give us access to how this generation thinks about the world, their place in it, and how to create social change. These young people are creating a revolution and the authors – in a cogent and thoughtful manner – enlighten all of us, families and their advisors, about how to further the positive force of their efforts.”

Fredda Herz Brown
Founder and Senior Consultant, Relative Solutions
Founding Board Member, Family Firm Institute
Co‐author, The Family Wealth Sustainability Toolkit

“Michael and Sharna are the premier leaders on next gen philanthropy. They eloquently demonstrate the stories and strategies to leverage impact, educating readers on the unique value of next gen donors – today and tomorrow.”

Emily Davis
Author, Fundraising and the Next Generation

“The new book by Sharna Goldseker and Michael Moody won't be a classic someday. It is. Now. Their book is all about now and giving and this generation that, right before our very eyes, emerged from being the “next generation” to what Goldseker and Moody reveal is the “now generation”—that generation with the intellectual, human, and financial capital needed to tackle the massive challenges confronting the planet, the country, and their own backyards. The Goldseker/Moody approach to telling the stories of these givers and this new age of giving is fresh and creative: at once inspirational and how to, heartening, and instructive. For families, emerging philanthropists, and old pros trying to disrupt themselves, this book is a lantern in dark times, a light in the world we are all trying to fathom – and fix.”

Joline Godfrey
Author, Raising Financially Fit Kids

“There is a new generation of donors and the time to get to know them is today! Goldseker and Moody show us how to tap into their philanthropic minds as they transform the world of giving. Filled with fascinating first‐person stories as well as insights from years of research, this will be a book you pull off the shelf again and again so you can make the most of the coming philanthropic revolution.”

David Stillman
Co‐author, Gen Z @ Work

“Goldseker and Moody's research makes it clear that the Millennial Generation of philanthropists prioritizes impact as a core value. Drawing on the extraordinary voices of this rising cohort of donors, Generation Impact speaks of their growing emphasis on seeing results, in measurable ways, with the broadest and most sustainable benefit. Carried along by compelling narratives more than dry research data, the reader comes away impressed with how much the current generation is striving to honor the past while energetically adapting philanthropy for the future. Generation Impact is a remarkable book that, like its subjects, renews optimism for the world ahead.”

James Grubman, PhD
Family Wealth Consultant and Author, Strangers in Paradise: How Families Adapt to Wealth Across Generations

“Sharna Goldseker has been the articulate voice of an inter‐generational, reflective approach to philanthropy for decades. In this collaboration with Michael Moody, her experiential empathy is augmented with solid social science. Their inspired decision to let this cohort of emerging societal engineers speak “in their own words” has created a window into a history‐changing phenomenon. The book reads like a great coming‐of‐age novel but carries the impact of a research classic – altogether a major step forward in our understanding of philanthropy, past, present, and future.”

Kelin Gersick
Founding Partner, Lansberg, Gersick and Associates
Author, Generations of Giving: Leadership and Continuity in Family Foundations
Clinical Instructor in Psychology, Yale School of Medicine

“By sharing firsthand stories of inspiring next gen donors and how they embarked on their philanthropic journeys, Goldseker and Moody provide a fascinating roadmap for how others might leverage their resources to change the world.”

Coventry Edwards‐Pitt
Chief Wealth Advisory Officer, Ballentine Partners, LLC
Author, Raised Healthy, Wealthy & Wise

“If you are looking for a primer on how the next generation of major donors will affect your organization, read Goldseker and Moody's Generation Impact. This is the source for understanding how wealthy millennials are reshaping philanthropy.”

Derrick Feldmann
President, Achieve
Lead Researcher, The Millennial Impact Project

Generation Impact is a masterful compendium of stories, interviews, and survey data that informs us all about the who, the how, and the why of next generation philanthropy. It is an important reference for multigenerational families and their advisors as they address the “now generation” of donors and their unique “tool boxes” of strategies. I particularly found the real life stories in their own words helpful to understand the alignment of the personal, professional, and philanthropic lives of Gen X‐ers and Millennials. Sharna and Michael have written a well‐documented and seminal book characterized by enthusiasm for the future of family philanthropy as seen through the lens of the next generations. At the same time, they honor the legacy of multigenerational family philanthropy.”

Kathryn M. McCarthy
Independent Advisor to families and family offices
Director, Rockefeller Trust Company N.A
.

“Even though the book looks at next‐generation donors in the USA, most of the trends described in this overdue book can also be found in Europe and around the globe. There will always be cultural differences in giving but overall the book reflects the international perspective, the global connectedness that influences the actions of this next generation. The stories of this book will be a reference of identity for many.”

Michael Alberg‐Seberich
Managing Partner, Active Philanthropy
Managing Director, Beyond Philanthropy, Berlin

Generation Impact shows how next gen donors tick, why and how they want to give, and keep giving. The next generation of major donors will change the world like no other philanthropists in history. That is a global movement. From New York to São Paolo, I can attest that Goldseker and Moody's snapshot of next gen donors is on point.”

Daniela Nascimento Fainberg
Founder, Instituto Geração, Brazil
Global Philanthropist Circle Representative in Brazil, Synergos Institute
Family Philanthropy Advisor

ACKNOWLEDGMENTS

First and foremost, thank you to the hundreds of next gen donors—the majority of whom are presented anonymously—who are at the heart of this book. A project like this goes nowhere without your willingness to open up to us, to reflect candidly on your hopes and fears, your dreams and difficulties. Thank you for trusting us. We hope we did you justice.

Special thanks to the 13 individuals who agreed to step out from behind the curtain and be featured in the book. Not only did you give so much of your time during the various stages of the writing and editing process, but you did so in a collaborative spirit. We hope this endeavor shines a spotlight on the issues you care about and encourages others to deploy the innovative strategies you have courageously offered. Thank you for being leaders of the next—and the now—generation.

Whether responding to the survey or sitting down for a long interview, the next gen donors profiled here took their integral role in this book seriously, like they are taking their outsized philanthropic responsibility and opportunity seriously. Candidly, many people asked us during our work on this project if these rising donors were really as earnest as we claimed. We think the evidence for this is clear as you read through the book. You will see their authentic generosity, sincerity, and even vulnerability in these pages, in what they say about themselves and their giving, and in their willingness to share with others. Both their hearts and minds are committed to helping solve problems that trouble us all.

An ambitious effort like this, taking significant time and energy over several years, requires resources, patience, and continual support from our core partners.

Sharna is grateful to Charles Bronfman, the late Andrea Bronfman, Jeffrey Solomon, and John Hoover from the Andrea and Charles Bronfman Philanthropies (which sunset in 2015) for their belief in her and their initial investment in 21/64, which inspired her work on this book. She also thanks the current board of 21/64, Inc., including John Hoover, Dorian Goldman, Marvin Israelow, Jennifer Grubman Rothenberg, and Gail Norry for their encouragement and support of her leadership, the team, and the organization's mission.

Michael thanks the supporters of his work as the Frey Foundation Chair for Family Philanthropy at the Dorothy A. Johnson Center for Philanthropy, especially the Frey Foundation and Grand Valley State University. The leadership of the center and the university took the long view and gave him both the space and the encouragement to see this project through. Special thanks to Dean George Grant, Kyle Caldwell, Paul Stansbie, and the late, great Jim Edwards.

We want to thank those early and committed funders whose support enabled the research, development, and production of this book, including Andrea and Charles Bronfman Philanthropies, Max M. and Marjorie S. Fisher Foundation, Shelley and Sheldon Goldseker, Tarsadia Foundation, Tecovas Foundation, and the Youth Philanthropy Connect program of the Frieda C. Fox Family Foundation. Thank you to the Bill & Melinda Gates Foundation for allowing this new knowledge to be widely distributed to the philanthropic community and many other audiences, in the hopes that it can advance and expand effective multigenerational giving.

And thanks also to the funders of the original Next Gen Donors report and the Next Gen Donors: The Future of Jewish Giving report: Max M. and Marjorie S. Fisher Foundation, Joyce and Irving Goldman Family Foundation, Eugene and Agnes E. Meyer Foundation, Morningstar Foundation, and an anonymous donor.

The research phase and dissemination of the first report was enabled by a network of partner organizations across the country: Association of Small Foundations (now Exponent Philanthropy), Association of Baltimore Area Grantmakers, Bolder Giving (now part of the National Center for Responsive Philanthropy), Council on Foundations, Council of Michigan Foundations, Emerging Practitioners in Philanthropy, Forum of Regional Association of Grantmakers, Grand Street, GrantCraft, Indiana Grantmakers Alliance (now Indiana Philanthropy Alliance), Jewish Communal Fund, Jewish Funders Network, Jumpstart, Liberty Hill Foundation, The Minneapolis Foundation, National Center for Family Philanthropy, and Resource Generation.

Our deep gratitude to those close colleagues—past and present—in our organizations who supported this work over several years. To Danielle Oristian York, Barbara Taylor, Sara Finkelstein, Adina Schwartz, Erin Trottier, and Jos Thalheimer at 21/64; and to Tara Baker, Alicia Chiasson, Andrew Claucherty, Julie Couturier, Sherri Hall, Bev Harkema, Katie Kirouac, Allison Lugo Knapp, Pattijean McCahill, Heidi McPheeters, Mark Saint Amour, and Robert Shalett at the Johnson Center, we were privileged to have had you with us on this journey and thank you for your invaluable contributions along the way.

Thanks also to many other colleagues in this field whose experience, advice, and referrals played a role in the development of the book: Michael Balaoing, Rachel Bendit, Fredda Herz Brown, Chris Cardona, Leslie Crutchfield, Emily Davis, Adrienne DiCasparro, Coventry Edwards‐Pitt, Derrick Feldmann, Jason Franklin, Ellie Frey, Mary Galeti, Joline Godfrey, Annie Hernandez, Andy Ho, Jay Hughes, Shawn Landres, Laura Lauder, Terri Mosqueda, Satya Patel, Ellen Perry, Ai‐Jen Poo, Amy Rabbino, Nitika Raj, Ana Gloria Rivas‐Vazquez, Roselma Samala, Katherine Scott, Paul Shoemaker, Doug Bitonti Stewart, David Stillman, Jennifer Stout, Urvashi Vaid, Jan Williams, Richard Woo, and Kim Wright.

This book was also made possible by a crack team of editors, designers, and other consultants. Our deepest gratitude to Heidi Toboni, who was a passionate and indispensable partner throughout the entire process—our best reader and savviest advisor. Huge thank you also to Lisa Zuniga, Laurie Fink, Karen Berry, Collette Shin, Peter Ruchti, Mark Fortier, and Mary Franklyn. Thanks also to Brian Neill, our editor at Wiley, for such enthusiasm about the project—and for putting up with all our quirky details.

Last but most significantly, special thanks from each of us individually.

From Sharna:

Since our initial discussion in Philadelphia's Reading Terminal in 2011, Michael, it's been a pleasure to collaborate. I look forward to our next project. Thanks Mom and Dad for instilling in me the spirit of giving and inviting me to the multigenerational philanthropy table. Simon, thank you for being the best husband and partner a next gen could want. And Owen and Sasha, you are my inspiration. I love you all.

From Michael:

Thanks to Sharna, for embracing this partnership in the best spirit I could have hoped for—with genuine goodwill, trust, and (alas) patience. Unending thanks to my family, who taught me from the time I could open my eyes that giving with an open heart and eyes is what good humans do, regardless of how much you have to give. And much love and thanks to my wife, Karen Zivi, for the encouragement, solace, and distraction whenever each was needed.