It's the season of kindness, and contrary to their self-centered stereotypes, millennials are sharing the wealth.
A hefty 84 percent of millennials made a charitable donation in 2014, and 70 percent spent at least an hour volunteering, according to the Millennial Impact Report by research group Achieve, which surveyed more than 2,500 millennial employees and managers. And considering millennials are a cash-strapped group with overwhelming amounts of student debt, that says a lot.
On average, millennials give an annual gift of $481, according to Blackbaud's Next Generation of American Giving report. And they prefer donating to children's charities more than any other cause, followed by places of worship and health-related causes.
Millennials are "a primed generation willing and wanting to do good action into causes and issues they care about," said Derrick Feldmann, founder of Achieve, a data-driven website on millennials and social good. "Millennials are very excited ... to do something good for the cause."
Feldmann said it is the desire to be issue based and take activism roles that influences their generation to donate to children's and religious charities. Millennials are giving in two ways, he said: One by impulse, donating a dollar at the checkout counter or contributing to a Salvation Army bell ringer, for example. Second, by focusing on local causes like a neighborhood children's charity or school.