Family Giving Tree Foundation

Over the next 50 years, around $89 trillion will pass from older Americans to younger generations.  Yet the Millennial Generation (born 1981 or later) has been dubbed the “Me Generation” because of record spending, consumption, and market power.  Many parents worry that their children will not know what to do with this transferred wealth in the future.  

By the time these young people are in the 15- to 24-year-old age range, their purchasing power and influence will exceed $350 billion. The messages targeted to this market can have a profound effect on the shaping of the values of young people. More and more, these messages lead to the values of youth being based on consumerism, acquisitiveness, selfishness, and even greed. Counteracting messages from parents, religious groups, and community organizations—messages that encourage civic responsibility, the common good, and generosity—are easily drowned out.

Josh Lerman, senior editor of Parenting, explains the epidemic of selfishness among the younger generations: "Remember that they are kids, and kids are naturally selfish…Their parents take care of so many of their needs, they don't easily see other people’s needs."  Yet in an increasingly interdependent world, the “haves” of the younger generation will soon be responsible for caring for the “have nots” of the future.  Will they be ready?

Building a generation of compassionate individuals who are thoughtful about to whom and how they give is crucial to creating an attractive future for tomorrow. Yet we cannot assume that the development of a philanthropic spirit is innate.  The AAFRC Trust for Philanthropy explains that people who do not give philanthropically as youngsters are less likely to do so as they mature and age.⁵  Rather, a 1996 study by Bentley and Nissan found that, among school-age children, the most important factor leading to altruistic behavior was behavior modeling by adults. This learning is strengthened when the adult can describe the process and effects of philanthropy, and is greatly enhanced when children are given the opportunity to engage in giving and serving activities.

A survey by Cone/Roper (2000) found that parents agree that teaching philanthropy is important:

However, in spite of those statistics, more than two-thirds of parents say their children are not involved in charitable activities.  Parents are not doing what they say should be done. There are a number of reasons why parents do not teach their children about philanthropy.  Among these reasons include:

Another important reason might be that a strong social norm for giving does not exist.  At a 2006 conference on the Future of Philanthropy, Yale School of Management professor Barry Nalebuff asked an audience of graduate students, “How many of you know how much your parents gave when you were growing up?”  Exactly one student raised his hand and stated, “I know for a fact that my parents gave nothing.”  The rest of the students had a vague idea, but many remarked that talking about the monetary value of giving was counterintuitive to parents who wanted their gifts to be “under the radar.”  While conversation amongst children and family members can be tricky, expectations from social norming form the basis of lifelong giving.  

The Family Giving Tree Foundation will address these barriers by working with families to provide a fun, interactive dialogue that will develop a spirit of philanthropic giving from an early age.