By Kevin D. Feldman
The largest generation of people in World history is aging and with many outliving their retirement resources because they are living longer than projected by their retirement plans. Those who were once generous givers, may no longer be able to give.
The shrinking numbers of the generations that follow will hardly be able to replace the “Baby Boomers” of yesterday. There will be a shrinking pool of individual donors and prospects because of this. The competition for the donated dollar will become fierce.
Employers will be scrambling in search of qualified employees in a shrinking workforce. It is likely that many businesses will fail due to the shrinking number of consumers and lack of available workers. Corporate wealth may be stretched to its limits as companies consolidate to reduce expenses and adapt to the forthcoming decline is sales and worker shortages. The businesses that survive and were once generous donors and sponsors to nonprofits may have to reduce their levels of giving or stop giving altogether.
This historic contrast in demographics and world population levels will mean fewer people and companies to support the nonprofits that exist today, as well as those of tomorrow. The lack of needed nonprofits means a shortage of vital services to individuals, families, the environment, and much more.
A crisis awaits.
Is your nonprofit ready? If so, what has it done to prepare for this crisis? What are you doing now to prepare?
I have my own ideas that I will share with you in an upcoming post.