Most investors donate to causes that matter the most to them, and about half maintain the same charitable relationships year after year.
Most wealthy investors are invested in groups that need their financial assistance and do what they can to help those groups survive and thrive.
According to Spectrem’s study of investors with a net worth of at least $25 Million Plus (Not Including Primary Residence), 85 percent make charitable donations annually, and 47 percent donate at least $10,000 per year. Twelve percent give at least $100,000 annually to charitable organizations.
Eighteen percent of investors aged 56-65 give at least $100,000 per year, according to Spectrem’s 2014 $25 Million Plus Investor report.
Charitable contributions are tax-deductible, and 34 percent of investors said they are increasing their charitable contributions in order to decrease their overall tax bill.
Being able to travel the world is one of the perks of great wealth, and most of the $25 Million Plus investors spend on travel every year. But 28 percent say that a portion of their travel every year is for charitable or humanitarian purposes. That includes 46 percent of investors aged between 56 and 65, and 37 percent of investors with a net worth of at least $125 million.
Overall, the most charitable contributions by the $25 Million Plus investors went to religious organizations, with 25 percent of funds being earmarked for that purpose. Twenty-two percent went to charitable contributions for schools (including colleges), and 13 percent went to social service organizations.
Eleven percent of all charitable contributions went to hospitals or health care organizations, and 8 percent went to arts and humanities groups. Five percent each went to disaster relief or environmental organizations.
There are a great many charitable organizations looking for financial assistance, and 74 percent of the $25 Million Plus investors say they make their charitable donations based on causes in which they are most passionate about. Forty-seven percent said they do not change their charitable contributions annually, maintaining the same charitable relationships year to year.
Fourteen percent of the wealthiest investors say they would donate to causes in the third world that promote economic stability and benefit start-up businesses in that part of the world.
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.