YoungAssociates

Wealthy Giving More

From time to time prospective clients ask us why our first focus always starts with Prospect, Development Wealth analysis. For us the answer is simple, you want to be sure within your entire database you make all asks proportionate to current wealth and with greater attenuation to age specific requests for example when to introduce planned giving.

With wealth sharply up after the 2008 stock market crash (Dow Average is up 240%), 98.4 percent of the people with at least $200,000 of income or a net worth of at least $1 million gave at least 8% of their income away according to the 2014 U.S. Trust Study of High Net Worth Philanthropy.

Among those with a net worth of $1 million to $4.9 million, giving averaged $24,955 last year and people with more than $5 million in assets $166,602 on average.

Individuals remain the largest source of giving $241.32 billion in 2013, up 22% since the 2008 crash, while corporate giving at $16.76 billion didn’t increase over the previous period according to the Indiana University Lilly Family School of Philanthropy.