Many wealthy donors report that charitable giving — be it of money or time — is one of the most meaningful aspects of the wealth experience. As revealed in the 2014 U.S. Trust® Study of High Net Worth Philanthropy, the longest-running and most comprehensive study of high-net-worth giving behaviors, priorities and attitudes, the vast majority of wealthy donors said they were motivated to give by a desire to make a difference, to give back to their communities and for reasons of personal fulfillment and far less so by tax benefits, as is commonly believed.
“We know from both our research and day-to-day work with clients that donors are primarily motivated to give their time and dollars by a desire to make a difference, and far less so by tax incentives,” says Keith Banks, president of U.S. Trust. “What’s more, as our survey illustrates, people are giving more, volunteering more of their time, and seeking values alignment — and measurable results — from their giving.”
Here are some highlights of the survey, which U.S. Trust has been conducting biennially since 2006 in partnership with the Indiana University Lilly Family School of Philanthropy. To read the full report, which was released in 2014 and is focused on giving in 2013, please visit ustrust.com/philanthropy.
The full report is available at ustrust.com/philanthropy.
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