Millennials, Online Giving, & Asset-Based Giving: How It All Ties Together
Vanco Payment Solutions recently published their Churchgoer Giving Study: Findings Report. While delivering some sobering news, there are seeds of opportunity for the future.
The findings of Vanco’s study is similar to the studies we shared with you HERE and HERE.
While you may not feel the need to change what you’re doing based on the findings of one study, all of these different studies being done by various organizations are pointing to the very same results.
This isn’t a fluke or a gimmick being pulled on us by a special interest. This is the way things are, and we’d do well to heed what the data is saying.
The Findings
The Vanco study will sound like an echo from the previous studies we’ve spoken about, but here’s a quick list of the results:
- More people prefer e-Giving than before.
- e-Givers participate more in church life than those who give by traditional means and they give a higher percentage of their salary.
- Church attendance is down. Church giving by traditional means is also down.
- Millennials love e-Giving, give more of their annual income than others, and participate more than other age groups.
This is an interesting set of information with lots of implications.
Online Giving
But first, let me just repeat what Vanco said in its analysis. If you haven’t done so yet, you NEED to implement an online giving strategy for your church! My friend, it’s time to embrace technology and give your people options in how they can give to the mission of your church.
Especially since Millennials prefer e-Giving, one of the biggest ways church leaders can engage with these generous young people is to provide them with the platform they are most comfortable and familiar with.
Coming Into Their Own
There used to be a lot of doubt in the upcoming Millennial generation being expressed in church and business publications. So much so, this young man was inspired to ask us all to pray for them!
But the fact of the matter is that they’re showing the world their own set of values and ways of doing things. The Vanco study revealed several key points about Millennials in our congregations that we need to take note of and celebrate.
They give more of their annual income than other age groups. Specifically, they were more likely to give a tithe of their annual income. And Millennials were more involved in volunteering in their church than other age groups.
These two findings reveal a deeper aspect of the Millennial generation: a devotion to Biblical teaching and living.
A Stewardship Opportunity
This is not something we should take lightly. Church leaders should pick up on this fact and run with it!
In this study, we see a generation that has a proven track record for reacting to biblical teaching on giving and stewardship.
So while it’s true that most Millennials don’t have a lot of assets to give to support the mission of your local church now, you can form their understanding of biblical stewardship to include asset-based giving as well as online giving.
Take time to invest in upcoming Millennial leaders and we can change the way we fuel our church's mission. Share on XVanco’s study is packed with present-day, actionable insights for church leaders. But it also lays the groundwork for how church leaders can pave the way for the financial future of their church.
If we take the time to invest in this young generation of upcoming leaders, we can dramatically change the way we fuel the mission of our churches.
If you’re ready to know more about how asset-based giving can sustainably fund your church into the future God has for you, let’s talk!
The call is free, and there’s no obligation.
