Nonprofit Hub Radio
Whether starting a nonprofit or taking an existing cause to the next level, The Nonprofit Hub Radio Podcast is about breaking down how nonprofits can grow. Each episode features an interview with a sector star with insight, stories, or ideas that can take your nonprofit from good to excellence. Join host Meghan Speer every week to make your good go further!
Nonprofit Hub Radio
Fundraising Across Generations: Unlocking the $84 Trillion Wealth Transfer
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
A tidal shift in philanthropy is underway, and the clock is ticking. We sit down with fundraising strategist Sarah B. Lange to unpack the $84 trillion wealth transfer and lay out a practical roadmap for turning loyal supporters into legacy champions—without massive budgets or complex infrastructure. If you’ve wondered how to approach planned giving, engage entire families, or earn Gen Z’s trust, this conversation delivers clear steps you can use now.
If you’re ready to move from reactive fundraising to a family-centered legacy strategy, press play and take notes. Then share this episode with your board, subscribe for more nonprofit growth tactics, and leave a review to help other leaders find us.
Get free nonprofit professional development resources, connections to cause work peers, and more at https://nonprofithub.org
Marketing Support Network is proud to serve the nonprofit community by offering full service contact center fulfillment, digital marketing, and fundraising services. Your vision is our mission, and we can't wait to partner with you. Visit Marketing SupportNetwork.com for more information.
Speaker 1:Welcome back to the Nonprofit Hub Radio Podcast. I'm your host, Megan Speer, joined today by Sarah Lang. If you were at Cause Camp, you may have seen one of her workshops there or gotten a chance to chat with her. I know she was all over the place chatting with everybody, which was so fun to see. I love when speakers actually like participate in a conference instead of just freezing in and doing a workshop and breezing back out. So it was really fun to see you there. Sarah, welcome in.
Speaker 2:Thank you so much for having me. And I just want to say hello to everybody that I met at Cause Camp. Still having conversations with people I met at Cause Camp. That's been really fun. People dropping into my email and they're like, hey, I have a question for you. I'm like, great, let me absolutely.
Speaker 1:So that's great. And we're gonna actually dig a little bit deeper into the topic that you had talked about in Cause Camp today. So I'm excited to kind of to build on that. But in the meantime, if someone did not get a chance to meet you or see your session there, tell us a little bit about yourself and your work.
Speaker 2:Yeah. So I've actually been in the field of fundraising since 1989. And I know I don't look old enough to have been in the field since 1989. But yeah, so I am very passionate. I've only ever worked in the nonprofit sector. When you think about the nonprofit sector, I believe that it's actually responsible for the quality of life we have in the United States. Because if you think of the United States without any 501c3s, it would be chaos. So we're doing a lot of heavy lifting, and yet I see these expectations put on our shoulders, particularly around fundraising and money, where we're supposed to solve huge social problems for pennies on the dollar. And that's just not um that's a recipe for disaster. So I'm here to fix all that and change all that. So yeah, I've been work I work with clients of all sizes and shapes and uh all over the country. And I've worked with two foreign nonprofits and probably will do more, but yeah, I'm very passionate about the work that I do.
Speaker 1:Hey, so that's great. Well, I'm excited to dig in today. Your session at Coscamp was called Fundraising Across the Generations, and I was thinking about that as in preparation for today's interview. I was thinking about this last week. I was at a conference down in Orlando, and two of the sessions just struck me as so interesting because I remember okay, admittedly, I have not been in the sector since 1989. I was still in elementary school, so I don't remember maybe when we talked about it originally. But I remember getting into this field 20 years ago and people sitting around talking and going to conferences and having sessions on what are we gonna do with these millennials? Nobody knew what to do with the millennials, and all every session was like, how do we fundraise them? How do we target them? How do we how do we convert millennials? And that was the only thing that anybody wanted to talk about was millennials. And I remember sitting in the room being like, We're not that complicated. I really like I don't I don't see why we need all these sessions. We're really not that big of a deal. And so then I sat in this session, or I sat in these sessions last week at this conference, and all anyone wanted to talk about is what are we gonna do with Gen Z? How do we market to Gen Z? How do we convert Gen Z? It was the exact same conversation, the exact same sessions that we had 10 years ago, 15 years ago, whatever it was, about the millennials, and now here we are again. Still.
Speaker 2:Yes, and 10 or 20 years from now, we're probably gonna be having the same conversation about the next generation of the world.
Speaker 1:What are we gonna do about Gen Alpha? And except at the end of the day, I just want to just sit there and be like, again, they're not that complicated. They're still humans. Now, all that to be said, I I think we are in a really interesting time, and I'd love to kind of kick us off with this conversation here. Because I think the other thing that we've been talking about as long as I have been in the sector is this generational shift of wealth that the boomers are gonna control things until a certain point, and then it's all gonna shift and it's gonna be this massive, oh my goodness, just wave of influx of of giving into Gen Z and or into Gen X Millennial. Is that so let's let me start there. Is that a real thing? Yes. Is there some sort of like pinpoint timeline in the sand of this is when we should be prepared for that or looking for it? Oh, it's happening. Where are we?
Speaker 2:Okay, where are we in the so what's happening is you know, the boomers are the wealthiest generation that the United States has ever seen, right? So as they literally age out, and it it could be as they're older, it could be at their passing, they're moving their assets into different hands, right? And most of that obviously is going to X, but they're also the architects of social change, and so they were kind of the first wave of people to set up donor advice funds, and they're really primed for planned giving. So life insurance policies, annuities, all that good stuff. They really still want to make a difference, right? So they made a difference, they made a huge impact uh with um civil rights and voting and Vietnam and all that good stuff. So they still really are making impact, and they're doing a lot of impact philanthropy, so maybe they're giving to fewer organizations, but they're giving more money. Um, they're setting up those DAFs, but that is going to peter out in about 10 years. So we've got about a yeah, so boomers are really driving philanthropy for another decade or so. So what we're seeing is we're seeing in the United States there's a transfer of $84 trillion in wealth. Trillion trillion with a T? Yes, trillion with a T.
unknown:Okay.
Speaker 1:Not a B, not a billion seconds. Oh, yeah.
Speaker 2:Okay, that's and a lot bigger than a million. I know, right? Wealth and philanthropy tend to stay in families. So when I started hearing about, they call it different things. So the great wealth transfer, the silver tsunami, but it is a massive amount of money. And so what I find is most nonprofits are really not prepared to do anything about it. They don't know how to talk to people, they don't have a robust enough donor program. And this is not to blame them at all. I mean, 82% of the U.S. nonprofits have budgets under a million, right? So they are scrambling from day to day, trying to make ends meet, trying to meet the needs of the people and the animals and the environment. But I mean, I just don't want to see them miss out on this opportunity. So I I've been thinking a lot about okay, first of all, how do we talk to them in a way that can help them think about legacy giving, you know, because these are boomers, they do want to leave a legacy. So I started thinking, well, that's not really enough because we want to talk to their children and their grandchildren, not only to bring those generations in as donors to continue the family giving, but also as people who are inheriting this wealth. So that it now becomes a family conversation. It now becomes a plan that the family puts together. So I'm working with my clients to really talk to their most loyal clients who may or may not have been the biggest givers, right? So you've got somebody who's been giving you for 10 years. Maybe they're giving you a hundred bucks a year, but they're what I call a sleeping giant. They had demonstrated their loyalty. They've said, I love you. Can we go steady? Here's another $100, right? So I started really thinking about, okay, well, how do we build the farm team? Right. And then also, how do we bring the conversation to focus on the entire family? Like, why just stop at one generation, particularly when $84 trillion is at stake here, right? So I've been having conversations with those donors and getting my clients to have conversations with other donors about like, what are you thinking about? Like, and it can be a little awkward because you're talking about money and death in the same conversation, which are two taboo topics. Yeah. Um, so like obviously you have to have a relationship with these people. This is not a conversation you're having over coffee. So, but you know, with those donors who are deeply connected to the organizations, you can have a conversation with them about, you know, you've been such a loyal donor to us. We're thinking about the future. Bless you. Are you thinking about the future? What are you thinking about with the future? Like, have you talked to your children about your wishes? You know, like I like obviously I'm a professional fundraiser, so I've already told my son, here's the five organizations that are getting a gift out of my will. Here's their names and their addresses and their EIN, and this is your job. So I've already made that really clear. So, and I've already let the institutions know that I've left them a gift in my will. And I also have a couple of donor-advised funds that I distribute gifts from. But a lot of people haven't really thought about that. And so it's really up to us to steer the conversation that direction. And they're like, you know, we all get older and we start thinking about like, oh, wow, my time on this earth is limited, right? So you start thinking about like, you know, like my son's 29. I'm thinking about, like, oh, when do I get to become a grandma? You know? So that's not a thought I was having 10 years ago when he was 19. In fact, I did not want to become a grandma 10 years ago, right? Please don't make me a grandma. Um, but yeah, so it's really about starting to have those conversations, not just about the donor's intent, but about the familial intent. Because a lot of these donors aren't even having these conversations with their children. You know, I think it's like some ridiculous number, like 70% of Americans don't have wills.
Speaker:At Marketing Support Network, we are proud to support nonprofits by providing top-tier customer service solutions for your donors. Live US-based agents are able to assist your callers by phone, email, website live chat, or social media response 24 hours a day, seven days a week, 365 days a year. From taking donations to updating records, answering questions, to placing orders, let Marketing Support Network help you take donor care to the next level. Visit Marketing Support Network.com for more information.
Speaker 1:So as I know our listening audience, right, we've got a lot of executive directors, but we've also got a lot of development folks who are primarily in some of these smaller organizations. Their bootstrap and trying to make it happen. Is it too late? If they have not yet started talking to folks about this or trying to build a legacy program, I'll be honest, like my first job in in fundraising, trying to talk to folks about planned giving and legacy giving was one of the most intimidating pieces to me. Because to your point, it is acknowledging the fact that someday soon they're not they might not be here. And that's not a comfortable conversation. So it takes a lot of work to build up to that. But if for those smaller orgs who maybe have not dipped their toe yet into helping folks think about that, if there's only 10 years or so left, is it too late? Is now the time? Where do they even start?
Speaker 2:Yeah. Excellent questions. First of all, it's never too late. It is never ever too late to talk to your donors about fundraising and donor intent. Uh so if you're a small organization, there's two things I would say. One is what a great way to involve your board. Oh excellent points. They can have conversations, they can be ambassadors, they can help connect these people, they can host a house party where you have your top 10 donors and you have a lovely little soiree with them and really get to know them. And you could have coffee, you could have lunch, like eventually you could take them out to dinner. Um, so it's a great way for your board to get involved. And obviously that requires training and but I just I actually just finished a $2.1 million campaign with um some folks who were scared to death to fundraise. And they they raised $2.1 million in under a year, which yeah, yeah. That's great. Yeah, they were excited and they really believed in the project, but they were terrified of asking for money. So it's kind of like once you get through that ter initial terror, you're you can do fine. So that's one thing. And then the other thing is start with five people. You don't need to have this conversation with a hundred people. Start with five. Start with your five most loyal donors, who hopefully will also be your top donors. But I would use loyalty as the first litmus test because those are the people who really care about your cause deeply. Right. So if somebody's been giving you to three for you for three years or more, they have demonstrated that they are a loyal donor. So if you've only got a handful of staff people at your organization, pick five people. And, you know, hopefully you've got a CRM with some information in it. But you can Google them and stock them on LinkedIn and Facebook and other places to get to just to get a feel for them, you know, and who they are and what's important to them. If they're a high net worth individual, we actually use a wealth engine to do donor prospect research, but most of us don't have those kinds of donors just hanging out in our database that we don't already know about. So yeah, I would just say just get some, do an initial thoray for information and then figure out like what's the best way to approach this person. Does anybody on your board know them? Does anybody on your staff know them? Like, are they somebody's uncle or something? So just start with five people and have the conversation. The other thing I did with a client, this was probably about five years ago, we actually did, they were a women's organization, and so we actually had three Saturday events because we started thinking about like what is happening to women at age 50. Well, they're usually caught in the sandwich, so they're raising their children and they're dealing with their aging parents, right? So we we had a little workshop on it those issues and some of the things you can do to kind of deal with that. The next one we had was on estate planning again, because 70% of Americans don't have wills, right? And then the third one was more specific on on bequests and gifts and things like that. So we did it with an attorney. We had a Saturday session, we had like bagels and cream cheese and you know, coffee, very simple. And we had a consistent attendance of about 10 to 15 people. Okay. So we just had very specific follow-up plans. We gave them an information packet, we got in touch with them after each workshop. Did they have any questions? And all of a sudden, we started getting notices that we had been there were requests now from these women. And so we just did that wash, rinse, and repeat. And that was their new way to kind of introduce plan giving. But it was really a we're doing this for you model. Like we genuinely had to do it with the intention of giving women information they need as they're aging, right? So it was awesome that it stimulated some bequests, but yeah, that was another thing you can do is and we actually got the volunteer, the lawyer volunteered her time. So it it really, aside from making some copies and doing refreshments, it really was very low-cost.
Speaker 1:Yeah. But I I love that because so often I feel like nonprofits get stuck in the cycle of only thinking about what they can ask for. And this is a really great two that's a really great two-way street. Right. Oh no, we actually could provide some really helpful information to you as well, donor, right? Instead of just constantly coming to ask, but also giving back. I love that back and forth idea.
Speaker 2:Yeah, thanks.
Speaker 1:Okay.
Speaker 2:Well, we we also looked at it as a many birds, one stone approach. Sure. Because to have a conversation with these women would have taken months, if not years. And instead, we thought, you know, what's on the mind of women 50 plus? Oh, well, you know, at that time we were all women 50 plus. We could tell from our own experience. Sure. And so we just um did the workshops and they worked really well. And we just put them on wash runs repeat. It was just a cycle we did every year. We made sure it was like right before, you know, happened all before Mother's Day. So it was like late winter, early spring, which was a good because once you hit May, you've got graduations and showers and super busy season. Yeah. Yeah. So we tried to do it during the quiet months. Well, quieter months.
Speaker 1:That's great. I actually was just invited not too long ago. There's an organization that that my dad actually has been involved with for decades. Loyal volunteer, loyal donor, supporter, you know, through and through. And I I think to everyone else it just looked like a really nice event, but I sat in the audience going, This is brilliant. Right. So they do this, they call it their Shining Star Recognition Banquet, right? And it is basically they take like their top five volunteers or donors or whatever, and they acknowledge them, but they ask them to invite their families. And it goes right back to what you were talking about, right? Of I we want that legacy, but we want our families involved if with it, right? Now all of a sudden they have my information because I registered to go to the event to be there to support. And don't you know, not too long after, I got a very targeted email of you know, this Christmas season give in honor of and the messaging around that to try and cultivate. And I thought, and again, everyone else is just gonna look at this and be like, oh yeah, let me just give them some on behalf of my parents. I sat back and looked and I was like, oh my gosh, whoever designed this model is brilliant. Yes, that's a exactly it's so smooth, but again, again, same deal, right? You want people to be a part of it. Let's how do we get how do we incorporate that? I loved it.
Speaker 2:I thought it was so that's a total genius move. I'm jealous that they thought about it. I think it's right, it's such a great engagement tool, and I think that's we have to develop that habit of looking around. First of all, looking for what is already going on in our organization that we can leverage in a different way, like the volunteers, right? Of course they they leverage that into a whole thing, right? Yes. So that was genius. Looking Around your organization. Yeah. Looking for what's already going on that you could, you know, leverage in a different way. Look at the people in your organization and think, oh, these people already love us. Yes. How do we activate them? 63% of people give to an organization recommended by their family friend or coworker. Yes. 63%. So if we're not doing some sort of leverage out of that, then we're leaving a lot of money on the table. So looking at your volunteers, looking at your board, looking at your donors, your donors already love you. Why not do peer-to-peer fundraising? Right. Add it in.
Speaker 1:Yeah. There was a stat that I saw. I'm going to see if I can pull it up really fast. There was a stat that I saw at this conference last week when we were talking about digital fundraising because everybody wants to talk about, you know, it needs we need to be able to, again, with Gen Z, we need to be able to be digital and all of the things. The statistically, it was in the the latest Giving USA data that for Gen Z, being asked in person is the highest driver of online giving. Get them in the room. Like, yes, send the emails, do the social media, all all of the avenues. But we tend to think of them as such digital natives that we forget the impact of just talking to them in person. Put them in the room at this event, or just make sure that you are talking to your or equipping people to talk to their families. Because yeah, the highest driver of online giving was being asked in person for Gen Z.
Speaker 2:That does not surprise me at all because they value trust over brand loyalty. Yes. So being in the room is a great way to build trust. And so when I have donor events, I will invite the board and the staff participate with the understanding that their job is to work the room, not hang out in the corner around a cocktail table. Yes. And they need to talk to at least five people that night. And I issue that edict to every single one of them. And I want names. So if you think about it, I said, I don't want anybody leaving this room without having been touched by a staff or a board member. Yes. And so we put out special name tags, like they were a different color, like the board is in one color, the staff is in another color. And we're saying your job is to go up and introduce yourself and ask questions about who they are and how did they hear about you and what's their relationship. And then so you're on a reconnaissance mission, and then you need to like bring as much back of that as you can, which means you get to you have to talk to these people. It can't be like, you know, a quiz game where you run around like it's like no, you have to actually stand and talk to them. So it's a game changer because when people in an event, because they came to the event for a reason, right? And then when they have that touch by a staff or a board member, it changes everything. Yeah. Because now they know the organization cares about them as a person.
Speaker 1:Yes. One of the if you need to know how to do it, go find a sorority girl. One of the best skills I ever learned. I mean, I learned a lot in college. One of the best skills I ever learned being in my sorority is during recruitment, sororities have this system that they are actively plan out, and it's called bumping. And you know precisely who you're gonna bump. So, like, so you would be assigned a person to start the night with, and uh, 10 minutes in, I go and bump you, and you have another person to go, and I then follow up with that person. It is strategically coordinated as to who you're gonna bump around the room so that you get to talk to everybody and have multiple people engaging on these different fronts. If you need to figure out how to act to leverage an event and the audience at your event, go find yourself a sorority girl because they have the plan.
Speaker 2:I love that. I love it. Bumping.
Speaker 1:Yeah, it's it was ingrained, and so and you knew going into these recruitment events who you were responsible to bump the whole night, and that person had knew who they were supposed to talk to, and it followed a very clear-cut routine. But yeah, I think some we need to filter some of that into our absolutely into some of our uh fundraising events as well.
Speaker 2:Yeah. Too bad my my mom is gone. She was a sorority girl, and she knew how to work a room.
Speaker 1:Oh yeah. Absolutely. That's what you need in development. You gotta go find those girls. They will get the most out of your event.
Speaker 2:Yeah, she was also raised in the south, but that was like a whole other layer.
Speaker 1:It's a whole different layer of culture for sure. That's so funny. That's so great. Okay, so I this conversation has flown by and I gotta move us to wrap up. But if somebody wants to learn more, Sarah, either about you or the work that you do, or this has sparked in them like a, oh man, we really gotta get on the ball, and someone's gotta help me figure out a strategy for how to get leverage here uh around planned giving. How do we get in touch with you? How do we find you? What's the best way to connect?
Speaker 2:Yeah, so my company name is Sarah Bees and Boy Lang, L-A-N-G-E. You can find me on LinkedIn, you can check my website out. I am always open to having conversations with anybody about anything. Well, not anybody about anything, but fundraising really. Within reason, yes. Within reason, correct. Yeah, so we do individual donor work, grant writing, we help turn your board members into fundraising champions, we do communications, and then we do strategic positioning and planning. So I have a lot of other experience too, like event planning, but I don't I planned one too many golf tournaments and yeah. But yeah, so I'm happy to field any questions from folks and just find me on LinkedIn, send me an email, find my website. It's just Sarah B. Lang.
Speaker 1:Perfect. And we'll go ahead and link that in the show notes as well. So you can click to Sarah's website. Okay, so the question that we've been kind of asking everyone this season as we wrap up is we're looking at 2026 as the year of self-development, right? We're gonna grow either personally or in a skill. What's a book or resource that you would recommend, either about this topic or not, that really has impacted you, resonated with you, taught you something new, or that you that you would recommend other folks go check out?
Speaker 2:Yeah. Well, I am completely obsessed with this $84 trillion wealth transfer that's going on because I want nonprofits to get that big juicy slab of pie. So I actually just read this book over the Christmas break. It is called Generation Impact How Next Gen Donors Are Revolutionizing Giving. And it's by Sharna Goldseeker and Michael Moody. So this is a great book. I have like 50 pages of notes about it because I'm actually gonna write a book about fundraising across the generations just because I really want people to like get their hands on this money.
Speaker 1:Yeah, absolutely. That's so great. Well, when that book comes out, feel free to let me know. We will absolutely have you back on the podcast to talk about that. Sounds great. But thank you again, Sarah, for all the insight. I think, like I said, this is certainly a large opportunity for a lot of organizations to really set themselves up for long-term sustainable success in the future. And so I appreciate the call to everybody to jump on board and get in there now. It is not too late, but we we gotta get on it.
Speaker 2:Yes. The train has to leave the station sooner rather than later, for sure. Yeah. So good.
unknown:Yeah.
Speaker 1:Um, okay, we'll definitely go connect with Sarah on LinkedIn at Sarah B. Lang, and we'll click the website in the show notes here as well. Sarah, again, thank you for being here. We always appreciate your wisdom, and we will uh look forward to talking to you again when that book comes out.
Speaker 2:Well, thanks so much for having me. I appreciate it, Megan.
Speaker 1:Yeah, my pleasure. This has been another episode of the Nonprofit Hub Radio Podcast. I'm your host, Megan Speer, along with Sarah B. Lang today, and we'll see you next time.