Entrepreneurs Donate and Volunteer More Than Others, Study Shows

By Julian Wyllie, Fidelity Charitable

 

Entrepreneurs as Philanthropists

 

Summary

The median donation from entrepreneurs is 50 percent higher than the median gift from other kinds of donors. Entrepreneurs give an average of $3,577 a year, compared with $2,383 for others.

Entrepreneurs are twice as likely to prefer new or innovative nonprofits and, along with their money, they give more of their time to charity; 66 percent said they volunteer three or more hours a month, compared with 55 percent of other donors.

Survey results were drawn from 3,000 people who itemize their taxes.

 

Additional Findings

  • 79 percent of entrepreneurs say charitable giving is a critical part of who they are.
  • 47 percent consider themselves philanthropists.
  • 69 percent of current business owners who intend to sell or pass their business down to a relative in the next five years also have plans to donate to charity as part of the transfer of ownership.

 

Read the full study here (subscription required).