Wealthy Donors

Ted Hart speaks with Steve Hafner, founder and CEO of HEPdata, about finding wealth on his Nonprofit Coach radio show.

Among wealthy households, average giving as a percentage of household income held steady at approximately 9 percent between 2009 and 2011, despite the challenging economic environment, according to the 2012 Bank of America Study of High Net Worth Philanthropy. The fourth in this series of biennial studies reveals a strong commitment to charitable causes among high net worth donors.

Nonprofits shouldn’t count on the wealthy to increase donations anytime in the near future: Only one-quarter of them will increase their giving over the next five years, according to preliminary results of a new survey.

The study, conducted by the Center on Philanthropy at Indiana University and sponsored by Bank of America, of more than 700 affluent Americans found that half plan to give the same amount they donated in 2011, while 9 percent plan to decrease their giving.

Forbes Insights announced the findings of a new study, Next Generation Philanthropy: Changing the World, sponsored by Credit Suisse Group, as part of the Forbes 400 Summit on Philanthropy. This summer, in an unprecedented gathering of wealth and international philanthropy, Forbes brought together 150 billionaires and near-billionaires, including keynote speakers Bill Gates, Warren Buffett and Oprah Winfrey, for a private discussion of ways to help solve the world's most intractable problems. The peer exchange, which focused on greater collaboration, sharing of best practices and up-front education, helped advance the conversation around philanthropy on a global level.

The Giving Pledge has announced that 11 more families have signed on to the campaign, bringing the total number of pledge signatories to 92.

New signatories include Manoj Bhargava, Charles R. Bronfman, Dan and Jennifer Gilbert, Reed Hastings and Patty Quillin, Peter B. Lewis, Gordon and Betty Moore, Jonathan M. Nelson, Jorge M. and Darlene Perez, Claire and Leonard Tow, Albert Lee Ueltschi, and Romesh and Kathleen Wadhwani.

As Forbes unveiled its Forbes 400 list of the richest people in America, it also released highlights from its Forbes 400 Summit on Philanthropy.

On June 26, 161 billionaires and near-billionaires gathered at the New York Public Library for The Forbes 400 Summit on Philanthropy, the greatest-ever meeting of its kind. Oprah Winfrey kicked off the day, and Warren Buffett and Bill Gates also gave keynote talks. Melinda Gates, Diane Von Furstenberg and Jacqueline Novogratz headlined a panel about giving to women and girls.

The Foundation Center's Glasspockets website now includes a resource designed to bring greater transparency to the Giving Pledge, an effort spearheaded by Warren Buffett and Bill and Melinda Gates that encourages the wealthiest Americans to commit the majority of their assets to philanthropic causes. "Eye on the Giving Pledge" combines the Foundation Center's authoritative data on philanthropy with public information to offer an in-depth picture of Giving Pledge participants (81 currently), their charitable activities, and the potential impact of this collective effort.

The National Committee for Responsive Philanthropy has announced that a total of 125 foundations responsible for nearly $3.4 billion in annual grantmaking have signed on to the Philanthropy's Promise campaign, which aims to encourage grantmakers to prioritize the needs of marginalized communities.

Research company Phoenix Marketing International announced findings from its monthly study among affluent individual investors age 21+ with $100,000+ in investable assets.

Participants in the March 2012 monthly Phoenix brand health and advertising performance study reported that they typically donate less than $2,500 each year to charitable organizations. Donations do increase among higher income households, but not exponentially. Phoenix research shows that one-third of U.S. households with annual income in excess of $150,000 donate at least $5,000 annually and about one in six donate more than $10,000.

Despite continued economic woes, a majority of the nation's millionaires aren't cinching their purse strings when it comes to charitable giving.

Fifty-nine percent of millionaires agree they feel they have an obligation to give back to their community, according to a survey released Jan. 17 by PNC Wealth Management . The percentage remains the same as it was in 2008.

The study also revealed that 21 percent plan of these wealthy donors plan to increase their giving, while 22 percent of millionaires plan on cutting back the amount they give to charity. Forty-six percent plan no change.