Tuesday, September 15, 2009

Wealthy Philanthropists Undeterred by Recession, Look for Charitable Impact

Although many charities are focusing their outreach efforts on engaging a younger generation of philanthropists, the wealthy demographic represents a powerful resource for sustaining charities through the economic downturn, a recent survey found.

Titled “Tomorrow’s Philanthropist,” the report was conducted by Ledbury Research in partnership with Barclays Wealth, and surveyed exclusively high net worth individuals - responses were culled from 500 people with investable assets of more than $1 million and 150 people with assets of more than $5 million.

The report found that wealthy individuals have largely retained their focus on philanthropy despite the recession. Many wealthy individuals reported that they consider philanthropy a "key expense" and would sooner cut back on comforts than reduce donations - 77 percent said they would not decrease their level of giving as a result of the recession.

Read the rest of the Daily Tell article...

NOTE: BETF Director Tayo Ibikunle is leading our initiative to seek support from BDPA members that may be high net-worth individuals like the folks in this article. The results in the Tomorrow's Philanthropist research paper are encouraging to us.

What are you thoughts?

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