Wealthy Gen Z and millennial donors are changing the philanthropic playbook
Despite their significant share of US wealth (around 26% per Federal Reserve Q2 2026 data, more than double that of millennials although half that of Boomers), the report does not provide complete comparisons for Gen X, although this cohort was included in the survey.
The report does show that 90% of Gen X donors supported basic necessities in 2025, matching the Gen Z and millennial rate and well ahead of the 83% recorded among Boomer and Silent donors.
Similar patterns emerge in health care or medical research (83% for Gen X vs. 90% for younger donors and 67% for older) and environmental preservation (65% vs. 84% and 47% respectively). On human rights or social justice causes, Gen X sits at 67%, between the younger cohort’s 85% and the 43% recorded among Boomers and Silent Generation donors.
But the vehicle-level data – charitable trusts, family foundations, DAFs, fundraising, mentorship –is presented only as a comparison between Gen Z and millennial donors and Boomer and Silent Generation donors.
“Philanthropy is becoming increasingly multigenerational,” said Jennifer Chandler, head of philanthropic solutions at Bank of America Private Bank. “Younger donors want to honor the charitable traditions that shaped them, but they also want to define their own impact. The opportunity for families is to engage the next generation early, creating a shared vision for giving while allowing room for new priorities and approaches.”
