This paper reports on research that seeks to improve our understanding of issues that impact upon the philanthropic gifts of university alumni. Prior research has examined such alumni characteristics as wealth and affinity to the alma mater. Such findings have guided development professionals to conduct different kinds of research that can reveal aspects of affluence (e.g., real estate holdings, professional positions) and institutional engagement (e.g., membership in alumni associations, season tickets to sporting events). This information is housed in databases which can be accessed by the fundraisers. The current research seeks to extend our understanding by examining the potential differences between generations. This article examines survey responses from university alumni in two age cohorts from two large comprehensive universities in the United States. Respondents were asked questions that inquired about their affinity toward their alma mater, intentions to give as well as alumni interest in participating in or attending different events at the university. Significant differences between younger and older alumni were found within each topic. From these results, the importance of market research and applications of alumni segmentation specifically, are discussed for administrators and advancement professionals.