Wealthy plan on leaving assets to charity
January 13, 2015 The NonProfit Times
People don’t generally get rich by giving money away — getting rich involves dough coming inward rather than going outward — but there are people with money who are willing to donate some of it to a good cause.
Forbes Insights published the results from a gathering of wealthy individuals for a conversation about philanthropy. The study coming from the gathering led to the following findings:
- Giving is alive and well. Some 54 percent of respondents said they would leave more than 25 percent of their assets to charity.
- There is a business-like approach to giving. Fifty-three percent of respondents agreed with the statement: “I find applying my business experience to my philanthropy is an effective and successful approach to giving.”
- Motivation to give comes from the heart; respondents said they are driven by personal values.
- Philanthropists have a clear set of values.
- Family foundations are more important as asset levels grow.
- Today’s philanthropists are creating the base for the next generation of philanthropists.
- Measuring philanthropic impact is a work in progress.
- Social media is part of a philanthropic strategy, but not a substitute for personal time and commitment.