Proposal Time Management...Challenges 10 \爀䰀攀瘀攀氀 漀昀 攀昀昀漀爀琀屲\爀吀栀攀爀攀 愀爀攀 琀椀洀攀猀 眀栀攀渀 䤠ᤀ瘀攀 爀攀挀攀椀瘀攀搀
Home - St. Louis Community Foundation - Working Across … · 2016. 11. 29. · Flourishing, a...
31
Sharna Goldseker November 17, 2016 Working Across Generations
Transcript of Home - St. Louis Community Foundation - Working Across … · 2016. 11. 29. · Flourishing, a...
Sharna Goldseker November 17, 2016
Working Across Generations
Sharna Goldseker Sharna Goldseker has nearly 20 years of experience in the non-profit sector, including fifteen in the philanthropic field as a grantmaker and as a consultant to families, foundations, and advisors on next generation and multigenerational philanthropy. Sharna is Executive Director of 21/64, a non-profit consulting practice specializing in next generation and multigenerational engagement in philanthropy and family enterprise. Sharna consults and speaks on generational transitions often using 21/64's uniquely developed tools; facilitates next gen peer networks for those who are or will be involved in their family's philanthropy; and trains other advisors on 21/64's approach to multigenerational engagement. Sharna is editor of The Grandparent Legacy Project and co-author of #NextGenDonors, a first-of-its-kind study of high-capacity next gen donors in the United States. Sharna has training in organizational development, group dynamics, and family systems. Sharna currently serves on the Board of Directors of the Goldseker Foundation, Felicity House, and is a member of the Collaboration for Family Flourishing, a network of family wealth advisors. She is married with two children and lives in New York City.
Photo by Mr.TinDC - Creative Commons Attribution-NoDerivs License https://flic.kr/p/8wv7Z8
Photo by Lets Go Out Bournemouth and Poole - Creative Commons Attribution License https://flic.kr/p/dxKYcC
Center on Wealth and Philanthropy at Boston College , 2014
Wealth Transfer from 2007-2061
$59 trillion
5 Generations Above the Age of 21
PwC 2011 Global Private Banking and Wealth Management Survey
$
$
$
$
$
Financial Advisor’s Retention of Subsequent Generation Clients
PwC 2011 Global Private Banking and Wealth Management Survey
Stay with their parents’ financial advisor after the first parent passes away
Stay with their parents’ financial advisor after the second parent passes away
45%
2%
©2015 21/64 | www.2164.net
Generational Personalities
The events and conditions each of us experiences during our formative years
determines who we are and how we see the world.
– Lynne C. Lancaster & David Stillman When Generations Collide
Presenter
Presentation Notes
Shawn achor
TRADITIONALISTS 1925-1945
BABY BOOMERS 1945-1965
GENERATION X 1965-1980
GENERATION Y 1980-1995
GENERATION Z 1995-2015
Generational Personalities
Photo Credit: "Grains” by Judith Klein | ©2015 21/64 | www.2164.net
TRADITIONALISTS
1925-1945
75 million
Events and Conditions • The Great Depression • World War I parents, WWII • Holocaust • Segregation • The New Deal • G.I. Bill • Automobiles, Airplanes, Movies Attitudes and Behaviors • Patriotism, loyalty, selflessness • “Waste not, want not” • Save for a rainy day • Faith in community and institutions
©2015 21/64 | www.2164.net
BABY BOOMERS
1945-1965
80 million
Events and Conditions • Post World War II Economic Boom • Television • Civil Rights Movement • Women’s Rights Movement • Vietnam War • The Pill • Moon Landing • Brown v. Board of Education • Founding of the State of Israel • Assassinations: JFK, RFK, MLK Jr. • Cold War
Attitudes and Behaviors • Optimism and idealism • Equal rights and activism • Competition ©2015 21/64 | www.2164.net
GENERATION X
1965-1980
46 million
Events and Conditions • Watergate • Iran Contra • Downsizing of corporations • Latchkey kids • AIDS • Famine in Africa • Crack • Divorce rate tripled • Challenger explosion Attitudes and Behaviors • Skepticism
- Government - Market - Marriage
• Independence • Resourcefulness Photo Credit: "Live Aid at JFK Stadium, Philadelphia, 1985” by Squelle | ©2015 21/64 | www.2164.net
GENERATION Y Millennials
1980-1995
76 million
Events and Conditions • Oklahoma City • Columbine • September 11, 2001 • Katrina and Rita • Cell phones • The Internet • Social Networking Attitudes and Behaviors • Team Work, Collaboration • Making an Impact • Diversity • Global Citizen
©2015 21/64 | www.2164.net
Presenter
Presentation Notes
The Atlantic, “25 is the new 21” 1. In his recently published book, The Age of Opportunity, Temple University psychologist Laurence Steinberg reports that today’s 25-year-olds are 50 percent more likely to be receiving financial assistance from mom and dad than the 25-year-olds of their parents' generation. 2. Adolescence, according to Steinberg, now stretches over a 15-year span, beginning at age 10 and ending around 25; that’s more than twice as long as during the 1950s. This may not be a bad thing. Steinberg’s research suggests that putting off adulthood can have certain benefits in terms of brain development and mental health. 3. It’s no wonder why. The Economic Policy Institute has found that entry-level hourly wages fell on average for both female and male college graduates from 2000 to 2013—8.1 percent among women and 6.7 percent among men. And the unemployment rate for 20- to 24-year-olds remains exceedingly high, at 11.4 percent (compared with 5.9 percent overall). 4. “It’s only natural for people to compare their kids to what they were like when they were that age,” Steinberg said. “But what you have to remember is that times have changed. Parents need to resist the temptation to say, ‘When I was your age, I had a job and I took care of myself.’ That is not relevant now. We do not live in the same world.” My favorite quote is this one: " he's still tied to his parents with a digital umbilical cord, staying on the family cellphone plan, and Netflix account. "
GENERATION Z
1995-2015
80 million
Events and Conditions • President Obama • 2008 Recession • The Sharing Economy • Smart Phones, Touch Screens • Instagram, Snapchat, YouTube • Crowd Sourcing, Crowd Funding Attitudes and Behaviors • Digital Natives, FOMO • Financial Awareness • Entrepreneurship • Pragmatic • Socially Conscious • DIY
Photo Credit: “Power User” by Alec Couros | ©2015 21/64 | www.2164.net
Presenter
Presentation Notes
The Atlantic, “25 Is the new 21”: " he's still tied to his parents with a digital umbilical cord, staying on the family cellphone plan, and Netflix account. " Narrative Better Homes & Garden surveyed this group: 3/5 teens have already started saving 97% aspire to be home owners, and average response on the cost of a house ($274,323) was extremely close to the right answer Baby Boomers entered the workforce and stayed with the same company their whole careers—Gen Z expects to change jobs, companies, careers many times 61% would rather be an entrepreneur instead of an employee after college Gen Z’s motto “Good things come to those who act”—Emily White, Snapchat COO @ Ford’s North American International Auto Show, December 2014 Gen Z sees themselves as a solution to the problems in the world (climate change, economic crisis, opportunity gap, equality, etc.) and are more likely to pursue careers that they think will help society and through their contacts and social networking they can alert them to needs and respond to them 60% want to have an impact on the world with their jobs (compared to 39% of Millennials) Gen Y loved sports and adventure, Gen Z sees sports as a health requirement, not for play—teen obesity has tripled since 1970 Among college freshman: Wine, hard liquor and tobacco use has dropped Online use is up 30% Depression is up 100% 30% have no religious affiliation, up from 15% in 1970 64% of Gen Z consider earning a higher degree part of their life goals and 50% will be university educated compared to 33% of Gen Y and 25% of Gen X
YOUR GENERATION
Reflect on and list your own ideas about the context and characteristics that shaped your generational personality
Events and Conditions • • • • • • • Attitudes and Behaviors • • • •
Photo Credit: "Naples, FL” by Bob B. Brown | ©2015 21/64 | www.2164.net
Who Influences Next Gen Donors
18
Top 5 Most Important Components of Philanthropic Strategy 19
Impact First
Most Important Influences on Learning and Developing Personal Philanthropy
21
Crafting Their Philanthropic Identities
89% Discuss philanthropy to some degree
US Trust Study of the Philanthropic Conversation, October 2013
71% Regularly ask clients about their interests in charitable giving
US Trust Study of the Philanthropic Conversation, October 2013
Percentage of respondents
Clients expect their advisors to help them with their giving
Where do high-net-worth households turn when making charitable decisions?
Accountant
Financial wealth advisors
Nonprofit personnel
Attorney
Community foundation staff
Peers/peer networks
Other
Bank or trust company staff
0 10 20 30 40 50 60
2007 2011
Presenter
Presentation Notes
The good news is… clients expect their advisors to help them with their giving. So you’re not bringing up something they don’t want to hear.
US Trust Study of the Philanthropic Conversation, October 2013
41% Of clients are satisfied with the philanthropic conversations they have with their advisors
However, clients seek conversations that are more goals and values based and less
technically oriented
Only
Advisors tend to overemphasize tax and underemphasize the next generation as
motivators for giving
US Trust Study of the Philanthropic Conversation, October 2013
Motivations for giving Passionate about cause, strong desire to give back and have a positive impact Encourage giving by the next generation Reduce tax burden
Clients Say
#1
#2
Advisors Say
#1
#2
What is the legacy that you aspire to leave? What is the impact you want to achieve? Who is the funder you aspire to be? In philanthropy, one has the opportunity to consider where the soul meets the business plan, yet determining the answers to these questions and articulating that vision can be challenging for many donors. To help with that process, this deck contains 52 colorful images designed to evoke greater awareness of an individual and groups' philanthropic identity and aspirations. Namely, what do you want to fund, how do you want to fund, and how that represents who you are as a person. From the images, you'll be able to develop language to write a mission statement, a vision statement, and an articulated message to funding partners, grantees or family members about what you want to accomplish through your philanthropy and leave as your abiding legacy.
Picture Your Legacy
Presenter
Presentation Notes
mention 21/64 trainings on how to use all our tools in their practice
• Are you living this vision? • What do you need to do or what kind of resources do
you need to live this vision? • As your advisor how can I help? At the front of the year • What do you want to accomplish this year toward
achieving your vision?
At the end of the year • How did you To toward living your vision this year? • What do you want to put in place for next year?
Questions Advisors Can Ask
Achieving A Goal
Presenter
Presentation Notes
Goal acheivement: Locke, Latham, Prentice-Hall
21/64 is a non-profit consulting practice specializing in next and multigenerational engagement in philanthropy and family enterprise. As families engage the next generation in their foundations, donor advised funds, and other forms of family enterprise, there is an increasing need for clarity, communication and multigenerational collaboration.
Website: www.2164.net Email: [email protected] Twitter: @2164buzz
#NextGenDonors Toolkit This toolkit contains everything you need to take your audience through an interactive experience into the #NextGenDonors research, as they unpack their own assumptions about these rising generations who hold the future of philanthropy in their hands.
21/64 Training the 21/64 Training is a hands-on experience, geared to a small group of professionals who want to broaden their ability to relate to family philanthropy and high net worth private wealth clients, and to help them navigate more successfully across generations.
21/64 Toolbox A comprehensive bundle of our most popular tools for facilitating strategic conversations around a breadth of prevailing philanthropic issues.
Website: www.2164.net Email: [email protected] Twitter: @2164buzz
