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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.
Archana Jain is an influential entrepreneur, social activist, and author.Through her foundation, literary works, and fashion initiatives, Archana promotes education, healthcare, and women's...more
Youth Rights Academy will take place in Geneva from 7 to 11 July 2025.The Youth Mental Health Fund Call for Proposals 2024 (up to $500,000) aims to improve the mental health of youth and their...more
Foundation: Grand Traverse Regional Community Foundation
Fall grant opportunities provide funding to support a range of programs and services, including those that focus on education, the environment, youth, seniors, health and human services and more.The...more
Grants in 2024 included: $125,000 to Salina Baseball Enterprises to construct Pestinger Family Stadium next to Dean Evans Stadium.$50,000 for School Marathon Foundation to provide programming at area...more
Atlantic Health System recently celebrated the opening of the newly renovated Gagnon Institute of Bioskills Training and Innovation.The simulation center provides healthcare professionals and...more
SAD is a physical effect that is "absolutely debilitating," Eileen Murphy says.Even people who don't meet clinical criteria for depression often experience seasonal mood changes.People are creating...more
The number of people over 65 is expected to double by 2050, driving increases in dementia, diabetes, COPD, depression and cancer.Diabetes drugs now represent over 75% of total sales in the metabolic...more
Expansion of "innovative health services" under the universal coverage scheme will require adjustments, says Dr Jadej Thammatacharee, Secretary-General of the National Health Security Office.Under...more
Department of Justice to create a community-based emergency response program in Little Rock schools.Little Rock Violence Intervention and Safety Innovative Outreach Network (LR VISION) will implement...more
Student mental health needs grow as challenges persist.Mental health now accounts for 23.1 percent of the total disease burden for adolescents in the United States.Systemic barriers, such as...more
Social Entrepreneurship
Spotlight
Halcyon Incubator Selects Inaugural Class of Fellows
Washington, D.C. based incubator for social entrepreneurs, Halcyon Incubator, has selected seven ventures to move into the newly renovated Halcyon House in September for its inaugural class of fellows.
