Posts tagged with: bank of america

Blog author: jballor
Friday, October 27, 2006
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“From everyone who has been given much, much will be demanded; and from the one who has been entrusted with much, much more will be asked” (Luke 12:48 NIV).

When Bank of America Philanthropic Management noticed that “the wealthiest 3% of American households responsible for nearly two-thirds of charitable giving,” it decided to study philanthropic giving. (The top 5% paid 54.4% of taxes in 2003.)

Passed on by Don’t Tell the Donor, “Bank of America today released the initial results of the most comprehensive survey to-date of the philanthropic behavior of wealthy Americans. The Bank of America High Net-Worth Philanthropy Study was conducted by The Center on Philanthropy at Indiana University for Bank of America.”

Among the key findings:

  • “Giving back” is more important than “leaving a legacy”

  • There is a surprising correlation between donations of time and dollars
  • Wealthy donors report that even major tax policy changes would not impact their giving
  • Entrepreneurs are especially generous donors
  • Charitable giving increased over the last five years
  • Wealthy donors support a broader array of causes