Here are some interesting facts on charitable giving:
- > In 2001, more than half of wealthy people (54%) said tax benefits induce them to give, but these considerations did not outweigh the importance of feeling strongly about a cause (74%).
- > 50% of the wealthy feel an obligation to give back to their communities
- > People of greater wealth (including home value, stock portfolio, retirement funds and other assets) contribute a comparitively high percentage of their income (5% on average) annually. People of high income but low wealth, however, give comparatively small percentages of income (3% on average).
- > The two groups in the U.S. that give the highest percentages of their income are the poor (those making less than $20,000 a year) and the rich (those making more than $100,000 per year). Middle class Americans (those making between $40,000 and $100,000 per year) are the smallest percentage givers.
For more information go to the Raymond James Charitable Endowment Web site. Also check out these links:
> Common errors in the administration of charitable trusts
> Create a personal foundation with a donor advised fund
> Tips for establishing and administering a family foundation
> Naming a donor-advised fund as the charitable beneficiary of a charitable lead unitrust makes sense - and can save a bundle of money
> Charitable giving tips
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