What motivates the wealthy to share?
November 28, 2016 The NonProfit Times
Donors with high net worth want to see how their gift makes a difference, in fact more than 72 percent of them said so in recent philanthropy study conducted by the Bank of America/Merrill Lynch.
Giving made them feel financially secure, and 71 percent of those who participated admitted as much. Msgr. John J. Enzler, president and CEO of Catholic Charities of Washington, shared these study results recently, during a presentation at the National Catholic Development Conference in National Harbor, Md.
Knowing the motivation behind high net worth philanthropy is valuable, Fr. Enzler said. The study also revealed that more than 50 percent of high income donors like:
- Giving to an organization that is efficient;
- Supporting the same causes annually;
- Giving back to the community;
- Supporting their political and philosophical beliefs; and,
- Giving to organizations for which they volunteer.