Millennials are ramping up their charitable giving, with donor-advised funds becoming an increasingly popular tool for their generation.
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More than 4 in 10 (42%) of millennials who donated to charities in the last year said they used a DAF in the past year, followed by just 13% of Generation X and 10% of baby boomers, according to a poll from Bloomerang and The Harris Poll that analyzed 2026 fundraising trends for nonprofits and giving patterns. The trend is likely to grow, with 55% of millennials saying they plan to use a DAF in the upcoming year. Another 19% of Gen Z givers said they used a DAF last year, but 35% say they plan to use one in the near future.
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A DAF, which is like a charitable savings account, allows donors who put money into the vehicles to get tax benefits upfront via a deduction, then invest the funds tax-free for donation to specific organizations later. By using DAFs, millennials could be reshaping the future of philanthropy.
“We keep talking about the wealth transfer like it’s on its way. It isn’t. It’s already happening,” Dennis Fois, CEO at Bloomerang, said in a press release.
Millennials are also more likely than older generations to increase their giving and support new organizations. According to the report, 80% plan to give to at least one new nonprofit this year — compared to 52% of Gen X and 30% of baby boomers.
When it comes to their “why,” 97% of millennials said they are likely to give to a nonprofit because it “makes them feel like they belong to something,” compared to 86% of Gen X and 87% baby boomers. Nearly 6 in 10 (57%) millennials said they “strongly agree” that giving makes them feel part of something.
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Also according to the report, 75% of millennials plan to give more this year than last, vs. 49% of Gen X and 36% of boomers.
Gen Z respondents, ages 18–29, were less than half as likely compared to any other generation to report having donated money to a charity or nonprofit in the past year.
The report, conducted from March 13-24, surveyed 1,000 U.S. adults who have donated to a nonprofit or charity in the last 12 months and more than 400 employees who make fundraising decisions for nonprofit organizations.
