Report: younger donors more likely to teach children to give
PATTERNS OF GIVING displayed by donor-advised funds increasingly are influenced by families, according to the latest survey completed by Fidelity Charitable.
COURTESY FIDELITY CHARITABLE
By Rhonda Miller PBN Staff Writer
BOSTON – A new report has found that family influence has a growing impact on the donation patterns of people who contribute to donor-advised funds operated through Fidelity Charitable, a national program that provides an alternative to direct philanthropy, the charity announced Tuesday.
The 2014 Fidelity Charitable Giving Report, which profiles donor demographics and giving patterns, showed from more than 1,100 Fidelity Charitable donors polled, 94 percent said they teach their children to give. Nearly 80 percent of those surveyed said the causes they support reflect input from family members.
“We often see families use their donor-advised funds to come together around a common cause, honor a family member or prepare the next generation to continue the family’s charitable legacy,” said Fidelity Charitable President Amy Danforth. “Our donors’ strong commitment to inspiring and teaching the next generation to give is a positive sign for the future of the charitable sector.”
The new report also found that about two-thirds of the donors polled discussed their charitable giving with family more than twice during the past year.
The survey revealed a trend that suggested donors under 50 years old were one-and-a-half times more likely than donors over 70 to teach their children to give.
The report also found that average number of grants is on the rise, with an average of eight grants per year in 2013, compared to seven in 2012. The survey found the average size of the grant also is on the increase, with the average grant of $4,017 in 2013, 6 percent more than during the previous year. The median giving account balance was $16,133 from a total account number of 63,729, with 87,431 charities supported by the account holders.
An analysis of grants showed older donors giving to a wide range of sectors, with donors under 50 most likely to recommend grants to education, religion and human services sectors.