Volunteering Linked to Increased Giving November 27, 2006
Posted by Steve in : Weblog , trackbackPhilanthropy Today Reports:
“Charitable donations by the wealthiest individuals in the U.S. have grown over the past five years, led by entrepreneurs and rich volunteers, a new study says. Almost two in three wealthy Americans say they increased their giving over the last five year, says the Bank of America survey, which targeted people with household incomes of at least $200,000 or net worth of at least $1 million.People who amassed their fortunes through starting their own businesses were more generous than other wealthy groups, giving an average of $232,206 a year, followed by an average of $109,745 from those who inherited their wealth, says the survey, which was researched and written by the Center on Philanthropy at Indiana University.”
VOLUNTEERING INCREASES GIVING
“Volunteering time for charity seemed to indicate a higher level of financial contribution, the study says, with the amount donated increasing as volunteer hours increased. Those volunteering from one to 50 hours a year gave an average of $31,092 annually, while those volunteering more than 200 hours averaged $132,086.”
This follows the path of our generation — we are looking for ownership in areas where we feel we can make a difference. Rather than give money to a large charity, the 35-50 year old generation is getting involved and putting both money and time where their mouth is. This is the same thing we find in our church giving — those who are involved with significant time commitments are generally those who give more of thier income.
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