Museum JB Sept 26 Meaningful | Alexander Haas

September 17, 2026

from the desk of
Jane M. Barghothi
Associate Partner

What Was Meaningful is Now Urgent

Twenty years ago, early in my professional career, I attended a seminar on multi-generational philanthropy. It featured donors who had deliberately brought the next generation into their family’s giving—ensuring that transformational philanthropy wouldn’t end with one generation but would carry forward to the next. The takeaway was simple but powerful: engage the younger generations of your best donors early and often.

At the time, that lesson felt meaningful. Today, it feels urgent.

We’re now living through the Great Wealth Transfer, and engaging the next generation of our key donors has never been more important. Estimates of how much wealth will change hands vary, but even the most conservative numbers are staggering: Cerulli Associates projects the transfer will total roughly $84 trillion through 2045, with younger generations—Gen X, millennials, and Gen Z—inheriting around $72 trillion, and another $12 trillion flowing directly to philanthropy.
By generation, baby boomers and the Silent Generation together will bequeath $84.4 trillion by 2045, with $72.6 trillion passing directly to heirs. Boomers alone account for $53 trillion—63% of that total. They still control roughly half of all wealth in the United States today.
This isn’t just a U.S. phenomenon. The World Economic Forum estimates that more than $80 trillion will transfer from the Silent Generation and baby boomers over the next two decades, with a significant share flowing to women. Jane Parker, Alexander Haas Partner, will explore what that means for women’s philanthropy in our next partner letter.

What does this mean for you and your organization?

It means the strategies that worked to reach your current major donors won’t automatically work with their children and grandchildren. What if you built the relationship now, rather than waiting until the donor is gone? Too many organizations meet the next generation only after a death. Could you invite these heirs to a special event, a site visit, or a board meeting today?

It’s also important to recognize that the next generation gives differently. Younger donors often want greater transparency, more direct engagement with outcomes, and a greater voice in how their gift is used. They are often drawn to collaborative and giving-circle models rather than simply writing a check and stepping back. What if you asked them how they would like to engage with your organization—separate from their parents—so you can learn more about what motivates them? Is there an opportunity to connect them with other donors closer to their own age?

Another way to engage the next generation is to proactively identify which key donor families have adult children or grandchildren and create entry points tailored to them. Advisory boards just for them, next-generation giving societies, and mentorship opportunities are a few ways to build these entry points.

Keep in mind that inheritance doesn’t guarantee inclination. Wealth passing to the next generation doesn’t mean their philanthropic priorities will mirror their parents’. The real question is how your organization builds its own relationship with these heirs—one that can carry the family’s legacy of giving forward, shaped by their vision.

The seminar I attended twenty years ago treated this as a forward-looking best practice. Today, it’s a necessary focus. The next two decades offer a rare window to build these relationships before the money moves—not after.

Ask Donors What They Own, Not Just What They’ll Give

Your biggest prospective donors may own assets they don’t consider donating because those assets aren’t liquid or easily converted to cash. The wealthier the donors are, the more likely their wealth is tied up in a business, a building, a stake in a partnership, etc.

Accepting complex assets can unlock large gifts from wealthy donors. Plus, helping donors avoid capital gains taxes by donating an asset before it’s sold creates a win-win: potentially lower taxes for the donor and a larger contribution to the nonprofit.

Once donors realize they aren’t limited to giving cash or publicly traded stock, they begin thinking differently about philanthropy. Assets that once seemed inseparable from an estate plan—a vacation home, a family business, a limited-partnership interest, cryptocurrency—suddenly become a philanthropic resource.

A useful test for any proposed gift: Can we determine its value? Can we reasonably convert it to cash? What financial, legal, or operational responsibilities would ownership create? An asset that fails any of those tests—one that needs specialized valuation, carries ongoing expenses, or requires serious legal review—signals the need to bring in help rather than go it alone.

Organizations that only occasionally encounter complex-asset gifts can develop relationships with experts such as attorneys, CPAs, gift-planning professionals, valuation firms, and other specialists who can evaluate risks, structure transfers, satisfy regulatory requirements, and execute a sale.

from The Chronicle of Philanthropy

And Asking is Very Important for Museums

In estate planning, donating to a museum can be one of the most forward-looking choices a collector or philanthropist can make, combining cultural commitment with a degree of strategic self-interest. Whether the gift takes the form of funds or artworks, it can strengthen an institution’s collection and programming, expand access for the communities it serves, and help donors build lasting legacies while avoiding certain tax burdens, sparing their heirs some of the costs and complications of managing an inherited collection. As the great generational wealth transfer unfolds, museums across the country have received a remarkable number of major cash donations in the first half of this year alone. Here are some of the most notable.

$116M to the National Gallery of Art in Washington, D.C.
$75M for the Jen-Hsun and Lori Huang College of Art, Architecture and Design at Vanderbilt University
$23M to New York’s Metropolitan Museum of Art
$15M to the Phillips Collection in D.C.
$3M to the Fralin Museum of Art at the University of Virginia
$3M to the Rockwell Museum in Corning, New York
$2M to the Memorial Art Gallery at the University of Rochester *
$1.5M to the NSU Art Museum in Fort Lauderdale
$1M and 100 ceramics works to the Oakland Museum of California
$1M to the National Museum of Mexican Art in Chicago

from the Observer

*Alumni Client Partner

How to Turn Board Members into Fundraisers

Many trustees freeze when asked to bring in gifts. But clear expectations and training can turn them into effective ambassadors for your nonprofit. Prospective board members at nearly all nonprofits know they’ll play a governance role and be expected to give. Just as important is the role board members can play in securing financial support for the charity. Yet not all board members feel prepared to fundraise.

Here are some tips on how to find board members who can help raise money—and how to help reluctant ones grow into the role.

Recruit Members with Fundraising in Mind
Discuss fundraising with prospective board members and put those expectations in writing. For instance, tell each board member that they are expected to “give or get” a specified amount for the charity each year.

Recruit Fresh Blood Frequently
Many nonprofit leaders value having long-tenured board members around to mentor less-experienced members on duties that include fundraising. Perhaps use short two-year board terms—renewable just once—to bring in new blood and keep fresh ideas flowing.

Look Beyond Fiscal Wealth
Charities often seek out wealthy people for their board. But when it comes to fundraising, rather than personal giving, wealth matters less. Pay attention to how people interact with the nonprofit before they seek to join the board. If you want people willing to contribute to the hard work of fundraising, look for those who go the extra mile—such as helping pick up trash after an event.

Provide Training at Every Board Meeting
A passion for the cause is not enough—board members need to know the charity’s facts cold and have some familiarity with the basics of fundraising. Provide each board member with a binder so they can read up on the charity’s history, program details, and mission.

Pair Board Members with Staff to Close Gifts
Board members help pave the way for gifts but rarely have the skills or knowledge to finalize them. For a very large gift, the CEO should be involved. For a gift just below the top tier—perhaps $10,000 at a midsize charity—a board member should be supported by the chief development officer. Even gifts as small as $1,000 should involve lower-level development staff.

Hold Board Members Accountable
Board roles are volunteer positions for people with busy lives; the promises they make at board meetings may be the first to slide. It is important to provide annual feedback to board members on how they’re performing.

Celebrate the Wins
When a board member spends considerable time cultivating a relationship that turns into a big gift, don’t just say, “That’s great.” Promote the achievement. Providing that platform not only recognized the trustee’s accomplishment—it also helped other board members realize they could play a similar role in bringing resources to the charity.

from The Chronicle of Philanthropy

We Know Museums
For more than 35 years, Alexander Haas has been a fixture in the nonprofit community. We are honored to have worked with leading museums and cultural organizations across the country that help communities be a better place to live. Just ask our clients.

Face It: Museums are Different
Our services aren’t cookie cutter. We don’t operate with a boilerplate, merely changing names and locations. We craft each and every service we provide to match your museum’s unique needs, wants and abilities. We work hard and expect you to do the same. Together we can help you transform your museum, your fundraising, and the community you serve.

Whether your need is in Capital Campaign, Annual Fund Campaign, Major Gifts, Leadership Annual Giving, Planned Giving or all of the above, we take a fresh approach to nonprofit fundraising.