Wealthy Feel Obligated to Donate

According to a new survey by PNC Wealth Management, most millionaires believe they have an obligation to give to their communities. Forty-nine percent of respondents agree with Warren Buffet’s statement that wealthy should pay more taxes and donate to charities.

Nearly six of every ten respondents believe they should give to charities, and twenty-four percent donated between $250,000 and $999,000 in 2010. In 2008, the percentage of respondents who donated like amounts was only twelve percent. Over twenty-one percent of respondents plan to increase their charitable donations, forty-six percent plan to not change their donations, and twenty-two percent plan to reduce their donations.  

See Millionaires Feel Obligated to Donate to Charitable Causes: Survey, Producers Web, Jan. 18, 2012.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.