Two-thirds of affluent U.S. investors typically donate less than $2,500 in cash each year to one or more charitable groups, according to survey results released Monday by Phoenix Marketing International.
Annual cash donations increase among higher-income households, though not exponentially, Phoenix said. Researchers found that one-third of U.S. households with annual income above $150,000 donate at least $5,000 annually, while one in six donate more than $10,000.
Phoenix polled 2,100 affluent individual investors with upward of $100,000 in investable assets, exclusive of 401(k) or similar plans, in March. The firm conducts monthly surveys of investors about their impression and consideration of various financial services brands.
Respondents in the March survey cited several reasons for their charitable giving. “Affluent investors are certainly altruistic, as the most frequent reasons given for making cash donations were to help other people in need and because they believe in an organization’s mission,” Cait Robbins, the Phoenix analyst responsible for the monthly U.S. study, said in a statement.