Giving: Is it part of your plan?

Much is changing in the landscape of philanthropy and charitable giving. Below, author Mary Jo Lyons, a certified Kingdom Advisor, explains.

Here are some highlights from the recently-released Giving USA 2018: Annual Report on Philanthropy for 2017:

  • Charitable giving in the US increased 5.2% in 2017.
  • Individual giving rose ~5.2% in 2017, an all–time high.
  • Giving increased 6% by foundations, 8% by corporations.
  • Gifts to religious causes ranked highest at 31%.
  • Education gifts next at 14%.

Gender shapes giving behavior, and the report How Women and Men Give Around Retirement by the Women’s Philanthropy Institute at Indiana University revealed some interesting statistics.

Single women and married couples consistently give more and volunteer more than single men. Adult daughters of wealthy givers have proven to care more about the causes their parents support and the frequency and the amount of donations more than adult sons. Women tend to spread out their donations, giving smaller amounts to more organizations compared to men.

We are in the midst of a multi–trillion–dollar, inter–generational transfer of wealth. Gen Xers and Millennials will be inheriting this wealth at the same time they are reaching their peak earning years, building even more wealth. This is changing the demographics of those entering the “retirement” phase of life.

Read the full story at Forbes.
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