Study of High Net Worth Philanthropy
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The Center on Philanthropy at Indiana University has produced a report for the Bank of America, 'Study of High Net Worth Philanthropy'. The study focuses on those American households with incomes of over US$200,000 or assets over US$1million, which represent only 3% of US households but are collectively responsible for over two thirds of all US household giving.
The study discovered that high net worth households have very different giving patterns to the overall US population, with less giving to religious organisations and more to combined-purpose organisations, education, the arts and culture. Nearly 98% of high net worth individuals made a donation in 2005, while the overall average is 67%.
The most common motivations voiced by high net worth individuals were "meeting critical needs" and "giving something back to society". High net worth donors also reported that they would give more to charity if "less money were spent on admin" and if they were "able to determine the impact of gifts". However, the vast majority of high net worth donors (over 87%) were satisfied with the impact of their charitable donations.