It may come as no surprise that women give and rack up more hours than their male counterparts
Wealthy women are more likely to contribute both time and money to charitable causes than men. Men, however, average a slightly larger amount of monetary distributions while the amount of hours donated by women far exceed those of men.
The average amount of contributions given to charities by women with more than $5 million in net worth averages $7,596 while the average amount given by men in the same wealth bracket averages $7,854. Yet almost 9% of wealthy women give $25,000 or more compared to only 5.3% of men who give similar amounts.
The largest percentage of women(33%) give $1-2,499 to charity each year. Roughly 24% give $5,000 to $9,999 and almost 27% donate $10,000 to $24,999.
The average amount of time donated by wealthy women averages 157 hours per year compared to wealthy men who average 103 hours per year. Thirty three percent of wealthy men give 1-50 hours while 23% of women volunteer from 1-50 hours each year. An additional 23% of women volunteer 50-100 hours each year. Only approximately 5% volunteer more than 500 hours each year.
In 2008, the average household with $5 million donated approximately $21,320 per year to charity. The average amount of hours donated averaged 155.09 with households over age 65 donating an average of 199 hours each year. In 2010, households with $5 million of net worth donated an average of $13,207 to charitable causes and average about 70 hours of volunteer hours each year....a significant drop in three years.