American millionaires gave less to charity in 2010 than they did in 2009, despite their strong philanthropic tendencies, according to a survey released by Spectrem Group on March 8.
The downward shift is part of the mixed and changing world of charitable donations, Spectremsaid in a statement. Overall, giving remained level in 2010 and is expected to rise this year, though the nature of giving continues to evolve.
Millionaires surveyed by Spectrem Group gave an average of $5,080 in 2010, down from $6,392 in 2009. But although the average contribution fell, 96% of millionaires continue to give to charity. More broadly, some two-thirds of all U.S. households give to charity with an average annual contribution of $2,213, Spectrem said in a statement, citing data from Sparxoo, a market research outfit.
More than three-fourths of the millionaires in the Spectrem survey gave $1,000 to $9,999 in 2010, and 16% gave $10,000 to $24,999. Two percent gave $25,000 or more.