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If you're a millionaire under the age of 43, you might want to think twice about giving to a charitybecause you're more likely to volunteer, fundraise, and act as a mentor than you are to give money, according to a new survey from Bank of America Private Bank.
"They've already got these complex [giving] vehicles at the ready, so the education piece is critical both for nonprofits and for the advisors," the bank's head of philanthropic research tells CNBC.
With charity increasingly dominated by wealthy donors, and with the next generations expected to inherited over $80 trillion in the coming decades, courting the young rich will be critical.
"You need their perspective and you're going to need their money," the bank's head of philanthropic research says.
"Advisors to the young rich also need to be generous with their praise."
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
Jakub Hlavka, a Czech healthcare economic expert, has praised the European Commission's pharmaceutical reform for proposals to reduce standard patent protection.He said it's a fair way to encourage...more
Common Ground Healthcare Foundation Announces Over $3 million in Grant Awards to Support Community Initiatives in Wisconsin. " Urban Milwaukee Common Ground healthcare Foundation" - Dec 18th, 2024...more
Foundation: Black Hills Area Community Foundation
One Step Closera helps pay for licenses and certifications required for careers like nursing and medical coding.Western Dakota Tech was given a $50,000 grant from the Black Hills Area Community...more
The Jewish Community Foundation of Los Angeles recently awarded $4.3 million in grants to 87 organizations.In Los Angeles, the grants are being awarded to 58 Jewish nonprofits to "enhance healthier...more
Brock University scholars are creating innovations that advance research in their disciplines and beyond.Early detection and analysis of nodules done through computed tomography (CT) screening has...more
This year, the University of Arizona Health Sciences published research on the potential of cannabis terpenes for pain relief.The U of A Health Sciences also reported on new findings in the areas of...more
Memorandums of Understanding (MOUs), Designated Collaborating Organizations (DCOs), and informal partnerships are critical strategies for Community Behavioral Health Clinics (CCBHCs) to enhance...more
Frontiers in MS Research: Driving Innovation and Collaboration for a Better Future for People with MS - MS Australia.The symposium highlighted groundbreaking research on MS prevention, early...more
MED-EL Contest Aims to Inspire Young Hearing Health Innovators.Open to children aged 6 to 12 years, this year's contest is in celebration of World Inventors Day.The contest encourages entrants to...more
Bedrock will team up with BAMF Health, Michigan Innovation Headquarters (MI-HQ), Ferris State University, Wayne State University and TechTown on the project.Henry Ford Health and Michigan State...more
Health News from...
Ford Foundation
Spencer Foundation
Akron Community Foundation
Social Entrepreneurship
Spotlight
Social Enterprise Shortlisted for First Citi Microentrepreneurship Awards
First Enterprise Business Agency (FEBA), a Nottingham-based business support organization, is a contender for two categories at the first Citi Microentrepreneurship Awards to be held this coming February.
