Survey Shows How Americans Do – and Don’t – Give Charity

family-1466274_960_720A recent survey from RBC Wealth Management-US and City National Bank shows some surprising, and disheartening, statistics about charity in America. While 82% of American say that it’s important to them to give charity, most people don’t actually give throughout the year.

47% of respondents said that they give to charity sporadically without any specific plan. This can have consequences, say experts at RBC Wealth Management-US.

As Van Pate, Wealth Strategies Consultant at RBC Wealth Management – U.S , explained “A well-planned program of lifetime gifts to family, friends and charities can provide income and estate tax benefits and help preserve more assets for heirs. Taking a deliberate approach to giving can help you make well-informed decisions and increase the benefits to both you and the recipients of your good will.”

When Americans do give, do they do so to just a few causes? No. 53% give to three or more charities and 10% give to 6-10 charities. 4% even admitted that they support 11 charities or more.

Malia Haskins, Wealth Strategies Consultant at RBC Wealth Management – U.S., explained why dividing up the money may not be a good idea. As she explained,

“There is a strong argument that, if you’re interested in doing the most good, you should concentrate your giving on one, maybe two organizations.”

And who gives more in the country? Midwesterners give more than Southerners, the West and the Northeast.

 

Article written by

John has much experience working in the philanthropic world, and takes great interest in charitable goings on today.

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