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Monday, December 2, 2019

Upper-Income Investors and Charity

Megan Brenan and Lydia Saad at Gallup:
With near unanimity, 97% of upper-income investors in the U.S. say they have donated money to a charitable organization in the past year, according to a Wells Fargo/Gallup survey of investors. Majorities of upper-income investors identify four factors as major reasons behind their decision to donate -- 78% strongly believe in the causes they support, 71% want to make a difference, 62% enjoy helping others, and 56% have a personal connection to the issue or organization.
Although less than half of upper-income investors say the following are major reasons behind their donations, majorities consider them to be at least a minor reason: moral obligation, desire to give back after benefiting from others' generosity in the past, setting an example for their children and being taught to do so by parents. Far fewer say tax savings and social pressure motivate them to donate.