Philanthropy, 2020

As foundation leaders, what will be the greatest opportunities and the most daunting challenges in the decade ahead? The January 14, 2010 issue of the Chronicle of Philanthropy takes an educated guess at this using known demographic data. This is the first of three posts on the topic.

The Graying of America

Today, 13% of our population is over 65. That percentage will rise to 16% by 2020. The graying of America will continue to present both opportunities and challenges.

First, the opportunities:
1. The over 65 population in the next decade is going to offer quite an impressive cache of skills and experience. The volunteer opportunities alone are significant, let alone the part time employment pool.
2. The “explosion” of philanthropic wealth is staggering. The article says that baby boomers will pass on $41 trillion to their heirs before all is said and done!

Next, the challenges:
1. Funding the increased demand for health care services will certainly be a huge challenge.
2. Growing philanthropy to help address multigenerational issues will also be a trend.