5 Key Findings on the Charitable Giving of the Wealthy
I received a phone message from a ministry that simply said, “Bill, I’m sure that all your wealthy donors just need to hear about us–we’re a great ministry!” His statement was bold, but was it true?
A U.S. Trust/Lilly Family School of Philanthropy 2016 study of high-net-worth philanthropy contained some surprising findings:
- While they want help in identifying volunteer opportunities (42%), they also want help in engaging the younger generation in giving (20%).
- Sixty-seven percent said they need help in identifying causes to support, but 50% also needed help in understanding how much they could give.
- They support a wide variety of causes–basic needs 63%, religious 50%, health 40%, youth 36%, and so on. Arts and education were 27% and 31%.
- They are unsure of the impact of their giving–54%. But 78% said they don’t keep track of impact.
- Only 24% of the wealthy are also politically motivated in their giving.
Not surprising: 84% want to maintain their privacy, and 61% still want a “thank you.”