Nonprofits Are Benefitting from the Wealthy’s Desire to Give Back

Monday, July 6th, 2015
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A vast majority of high net worth individuals donates to nonprofit fundraisers.

High Net Worth Donors give because they believe nonprofits can make a difference.

As many charitable organizations return to levels of gifting not seen since pre-recession fundraising, a refreshingly optimistic new survey is shedding light on where that money is coming from and why.

The 2015 U.S. Trust Insights on Wealth and Worth Survey, conducted by Bank of America’s Private Wealth Management arm, identifies “what the wealthy consider to be important elements of a life well lived.” Among them is a strong desire to give back. In fact 78% of the survey respondents who hold investable assets of more than $3,000,000 participate in traditional philanthropic activities for many good reasons such as:

  • Supporting causes and interests that matter most to them
  • Set a good example for their children
  • Make the world a better place
  • Moral obligation to share with others less fortunate
  • Paying forward past kindness or support from others
  • Family traditions and value
  • Good way to use more money than needed

 

You see, the 1% do have a heart!

An earlier report, The 2014 U.S. Trust Study of High Net Worth Philanthropy, found that 98.4% of high net worth households gave to charity, a 3% increase over the previous year. 84.4% of those gave with the intention to advance social or charitable goals. The report notes that high net worth donors are motivated to give because “ they feel moved about how their gift can make a difference.” The vast majority believes that nonprofit organizations have the ability to solve societal problems.

Of course this is not lost on directors of fundraising at all types of nonprofits from cultural to environmental to political to health and humanitarian. Acquiring a few mission-driven, high net worth donors can add up faster than gaining many low dollar donors signing up for a free umbrella in return.

The operative words here are “high net worth donors.” There are thousands of donor and income lists available on the market, but where does a nonprofit go for an audience of high net worth individuals identified as proven donors?

Why Wealth Window Major Donors of course. Right in synch with the rise in the number of affluent individuals in America, I can report higher numbers of wealthy donors on the file — nearly 7 million in total. That number was just 6 million a year ago. I can also help you navigate to the types of donors best suited to support your organization by types of causes they join. I also recommend that you test our “Power Donors” by how many thousands of dollars they give: $2,500-$4,999; $5,000-$9,999; and $10,000-$14,999.

 

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