Millennials most likely to give but prefer crowdfunding to direct donations
Millennials are nearly twice as likely to donate to charity than those aged 55+ but half prefer crowdfunding to donating straight to a charity itself, according to a survey by money collection platform Leetchi.com.
Leetchi.com analysed data from 2,500 respondents to a YouGov survey across the UK. 79% of 18-35 year olds said they were likely to donate to charity, compared to 42% of those aged over 55. However, half (50%) of those aged 18-24 and 40% of those aged 25-34 questioned said they would prefer to use a crowdfunding platform to donate money directly to individual than donate via an established charity organisation, according to the research.
When questioned on why they would not donate directly to charity organisations, more than a third (38%) of 18-35 year olds believed that only a small amount of their donation would go towards supporting the actual cause. A further 37% of 18-34 year olds stated that they don’t trust the source or organisation collecting it.
Favourite causes for this age group are health, chosen as a top priority for giving to by 29%, followed by wildlife preservation / animals, and community projects (27% and 24%). Technological development came last at 10%. 19% stated that they would not donate to any of the top ten causes compared to 58% of 55+ year olds, 40% of 45-55 years olds and 25% of those aged 35-45.
Céline Lazorthes, CEO and founder of the Leetchi Group, said:
“Charity organisations need to encourage transparency in how their funds are spent, particularly as today we have the ability to donate to specific causes in a matter of minutes from our phones. This hyperconnectivity opens channels for scrutiny and we need to determine how we can fundraise for a good cause and instil confidence in Millennials.”