The $124 trillion Great Wealth Transfer is fully underway—but nonprofits are ‘paralyzed’ by how to chase millennials’ newfound wealth

2026 marks the beginning of the $124 trillion Great Wealth Transfer, as baby boomers distribute their accumulated fortunes to younger generations. Steve Isom, chief operating and financial officer of Bloomerang, a nonprofit software company, notes that this wealth transfer poses a challenge for nonprofits as older generations provide the majority of philanthropic dollars.

Millennials and Gen Z, who are currently the most active donors, care most about giving because it makes them feel part of something. However, nonprofits struggle to engage these younger donors as they build less connection and involvement over time. Building trust and providing clear evidence of how donations make a difference are crucial for securing long-term support.