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Sunday, April 14, 2013

Surprising facts about charitable giving

By David T. Cook, CS Monitor, April 12, 2013
Just in time for tax season, The Atlantic serves up a fascinating look at charitable giving in the US.

“One of the most surprising, and perhaps confounding, facts of charity in America is that the people who can least afford to give are the ones who donate the greatest percentage of their income,” writes Ken Stern, author of a recent book on charities.

The wealthiest Americans—those with earnings in the top 20 percent—gave on average 1.3 percent of their income to charity in 2011, the latest year for which statistics are available. By comparison, Americans with incomes in the bottom 20 percent donated 3.2 percent of their income.

Wealth helps determine the recipients of charity. The poor tend to give to religious organizations and social service charities like the Salvation Army, The Atlantic says. The wealthy tend to focus their giving on colleges and museums.

What you see around you also influences how much you give, Mr. Stern says. Wealthy people who live where most of their neighbors make $200,000 a year or more give less than those who live in more socioeconomically diverse surroundings and see people in need on a daily basis.

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