Approaching Charitable Giving

Over the past decade, wealthy investors have increased their charitable donations by thirty-six percent.  However, only one in five feel their approach to giving is effective. 

Only nine percent of millionaire investors say they have received advice on charitable giving, as they believe a planned approach is only for the extremely wealthy.  “While it is clear that America truly has the ‘giving gene,’ the whole point of giving is to make an impact; yet few millionaires believe they are actually doing so. The majority are engaged in reactive, ‘checkbook philanthropy’ that is not strategic and not part of a broader financial plan.” 

Research indicates that investors with over $5 million are more satisfied and effective givers, not because of the amount in which they give; rather, it is because of the strategy they put into their philanthropic giving.  Thus, all investors at any wealth level would benefit from replicating this planned approach. 

See Wealthy Not Confident in Philanthropic Approach, Wealth Management, Oct. 21, 2014.

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