Hooray for Mark Zuckerberg (and his millions)

By Katie Norwood

Proof that youth is not wasted on the young, not only is Mark Zuckerberg TIME’s Person of the Year at only 26, and worth an estimated $6.9 billion, but he’s also coughed up a princely $100 million to the struggling public school system in Newark, New Jersey. Following the donation, Zuckerberg received his fair share of criticism from those who thought his motivation was less than philanthropic, and more of a strategically planned exercise in image rehabilitation in response to the negative publicity he received following the release of the motion picture The Social Network.

Whatever Zuckerberg’s true motivation may be, his multi-million dollar donation is certainly generous by any standards – and at the end of the day, in practical terms his donation will have a great impact in the lives of many. He is a figure who, by creating Facebook, has helped shape Gen Y and Gen Z tremendously – so will he be the inspiration of the next generation of philanthropists?

More and more, it is important for nonprofit organizations to reach out to young donors and cultivate relationships with them, building the foundation for life-long giving. Too often, nonprofits ignore this important demographic and fail to target young people in marketing and fundraising campaigns and outreach. One great way to reach young people? Social media. Nonprofits might try starting a blog, becoming more active on Twitter or even – you guessed it – on Facebook.

Watch the video of TIME’s Person of the Year below. http://video.ap.org/?f=AP&pid=GUNLRPM5VNIOECLhtBJNOWk5P6kuraxl

Do you think Mark Zuckerberg will inspire a new generation of young philanthropists? We'd love to hear your thoughts!