LONDON, November 17, 2016 /PRNewswire/ --
Research released by Leetchi.com reveals that Millennials are the 'giving generation' but are fast losing faith in charity organisations
Research today released by money collection platform Leetchi.com, reveals that Millennials are nearly twice as likely to donate to charity than those aged 55+ (79% compared to 42%).
There are currently 13.8 million people in the UK aged between 18-35 and as the UK's number one source of charitable donations, this generation is firmly in the driving seat when it comes to reshaping the third-sector. Half (50%) of those aged 18-24 and 40% of those aged 25-34 and would prefer to use a crowdfunding platform to donate money directly to individual than donate via an established charity organisation. 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. On which charitable causes they would prefer to donate to, Millennials ranked 'health' as a top priority at 29%, closely followed by 'wildlife preservation / animals' and 'community projects' (27% and 24%). Bottom of the list was 'technological development' falling in at only 10%.
Top 10 causes Millennials (people aged 18 - 34) choose to donate to:
1. Health (29%)
2. Wildlife preservation and animals (27%)
3. Community projects (24%)
4. Personal stroke of fate (for example illness, being homeless) (23%)
5. Humanitarian projects (22%)
6. Advocacy groups projects (human rights, women's rights) (18%)
7. Youth and education (17%)
8. Culture (13%)
9. Sports organisations (13%)
10. Technological development (10%)
Only 19% stated that they would not donate to any of these 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, comments on the findings; "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 instill confidence in Millennials."
"With the trust in UK charities at a record low, people are relying on donation-based crowdfunding to help fulfill fundraising targets and remove charities from the equation all together. Millennials are an extremely generous generation, however, they are also very money-savvy and aware that direct donations to individuals are the best way to ensure their money is being donated to the cause that they want it to."
Notes to editor and full long version here: http://d14yl6860gevc5.cloudfront.net/LeetchiCharitydatastory.pdf