(Verdict) The 2018 U.S Trust study of High Net Worth Philanthropy examined the giving and volunteering practises of wealthy households in the US.
The study found that 93% of high net worth women – those with over $1m – regularly donated to charity, compared to 87% of men.
Healthcare and medical research was the most popular cause of these wealthy women with 40% funding causes in this sector.
Women were also more likely to volunteer than men, with 52% of women versus 41% of men saying they volunteered regularly.
When asked what their top reason for giving was, 54% of wealthy households stated it was because they firmly believed in the mission of the organisation they were giving to.
A further 42% consistently made charitable donations as they believed their gift could make a difference, and 34% of respondents always gave support to the same cause or organisation year after year.
Giving to their own
One in five HNW households donated to women’s and girl’s charities in 2017, the average donation amounted to $1800.
When the respondents were asked what motivated their donations to this specific cause, 58% said that it was belief that supporting women and girls is the most effective way to solve other social problems.
African-American most charitable households
Another finding from the High Net Worth Philanthropy report was that 92% of wealthy African-American households frequently gave to charity.
African-American and Hispanic-American households were more likely to support religious charities, at 64% and 59%, respectively, than the high-net-worth population as a whole.
