Not Your Parents’ Charity

Yes, your kids are always asking you to break out the wallet. But this time if you think it’s just so they can get those new skinny jeans from Forever 21, you’d be wrong.

According to Reuters, who recently held a wealth management summit in Boston, giving patterns are changing – and many kids are responsible for the trend. Teens are increasingly pressing parents to look beyond traditional charities like the local hospital toward more innovative philanthropies.

Parents themselves are changing their giving habits, too.

"Donors are saying show me the results," BNY Mellon wealth manager Thomas Rogerson told Reuters."These days it is more than just writing a check."

This comes as a result of the beating investments took after the financial meltdown. People have less to give and want to see their dollars at work. Super-wealthy families are taking the approach of partnering with philanthropies to make sure their money is going to the right places.

So take a cue from the kids and try branching out your giving. Oh, and a couple bucks for the mall food court wouldn’t hurt, either.

Photo courtesy kamshots, via flickr.