Why should older donors matter to fundraisers? Well, first there are the simple demographics.
- The senior population, 65+ years old, will grow to 1 in 5 of U.S. residents by 2030.
- More than 1.8 million people in the U.S. will turn 65 each year beginning in 2011-- that translates into more than 5,000 a day.
- People age 50 and over now make up 24 percent of the U.S. population.
Then there is the fact that people in the U.S. donate more and volunteer more frequently as they age. That is reasonable considering that, at least in the U.S., people are better off financially and have more time as they grow older. Add that to the fact of increasing longevity and good health in the later years, and we have a force that any fundraiser ignores at his or her own risk.
The Hartford Financial Services Group (the company has a auto insurance product marketed through AARP), recently conducted a survey of the volunteer and charitable giving activity of people 50+. Here is what the survey found:
- Fifty-three percent of consumers age 50+ engage in volunteer work compared to 50% of all ages. Of those older consumers who belong to AARP, 14% volunteer one day per week while only 7.5% of non-AARP members volunteer to that extent. Of those surveyed age 49 and younger, 45% volunteer
- Seventy-six percent of people over 50 donate to causes they support. Of the AARP members within the study group, nearly 83% provide monetary donations to charitable causes. Of those surveyed age 49 and younger, just over 60 percent donate money to charities.
- Those surveyed age 50 and older are more than twice as likely to provide monetary support to Alzheimer’s, military support, and adult 50+ organizations, as well as museums and heritage sites.
The bottom line is that older people are active givers and volunteers. What are you doing to keep them engaged? Is your website easy on an older reader's eyes? Are your printed materials easy to understand? Are you making sure that your social media efforts are suitable for older donors? Do you know what media your older donors use and prefer? How active is your bequest program? Don't get left out when it comes to the generosity of the older donor. Monitor the age wave and adjust accordingly.
Related:
- 5 Steps to a Website That Will Attract and Keep Mature Donors & Volunteers
- Tips for Designing Print Materials That Appeal to Mature Donors
- What Donors Want to See on Your Website
- Seniors, Baby Boomers and Fundraising
- 5 Ways to Really Annoy Your Older Donors
- Raising Money Through Bequests
Sources:
U.S. Census, TheDailyTell, How Much Do Boomers and Seniors Volunteer?
