According to Giving USA 2018: The Annual Report on Philanthropy for the Year 2017, charitable giving by American individuals, foundations, corporations and bequests to U.S. charities exceeded $400 billion in a single year. We explore the patterns behind this trend and the impact of giving on the next generation.
- At least 70% of all charitable contributions in the United States can be attributed to individuals
- Individual giving amounted to approximately 86% of 2017 total giving when including bequests and family foundation contributions
Giving in the 1970s vs 2000s:
- Single women: $216 (1970s); $244 (2000s)
- Single men: $492 (1970s); $344 (2000s)
- Married couples: $721 (1970s); $594 (2000s)
Impact of Giving on Daughters and Sons
- Parental giving is linked with an 8.7% increase in the likelihood that their children give
- Likelihood of giving:
- Daughters: 11.5% higher if their parents give frequently vs. infrequently
- Sons: 5.4% higher if their parents give frequently vs. infrequentl
According to the Journal of Adolescence, parental role modeling and talking about giving are strongly associated with children’s giving. While role modeling was found to have a stronger effect on girls’ giving, talking about giving had a stronger effect on boys’ giving according to research from the Women's Philanthropy Institute.
No. 1 reason for millennial donors engaging in philanthropy: “Supporting a mission or cause that I believe in and fits with my personal values”
How Can I Get Started? BBH has helped countless families with their philanthropic endeavors. Our values-based planning tools can help you get started. To learn more about the resources available, contact your relationship manager, or email us at email@example.com.