Two studies of the philanthropic practices of high-net-worth individuals give charitable organizations hope for the future: Both reports say giving is up and will probably remain so.

The 2014 U.S. Trust Study of High Net Worth Philanthropy concludes, “Giving levels are up and the future looks bright.”

The UBS Investor Watch “Doing Well at Doing Good” comes to a similar conclusion and says, “In spite of the recent economic uncertainty, America's ‘giving gene’ remains intact, and donations of money have actually increased.”

Both reports were released Tuesday. The U.S. Trust study included 632 U.S. households with a net worth of $1 million or more and an annual income of $200,000 or more. The UBS survey included 1,372 investors with at least $1 million in investable assets and smaller groups of Gen Xers and millennials with less in investable assets. Both reports note that giving by wealthy individuals is up.

According to U.S. Trust, the average amount given by wealthy individuals to charity last year increased 28 percent. Ninety-eight percent of high-net-worth households donated to charity in 2013, compared with 95 percent in 2011. This marks the highest rate of high net worth participation in charitable giving since the study began in 2006, U.S. Trust says.

Most (85 percent) wealthy donors plan to give as much in the next three to five years as they have in the past. This is up from 76 percent who said they would give as much or more when asked the question two years ago.

The wealthy say the reasons they are increasing giving is because they have increased wealth (85 percent) or they see more of a need among nonprofits and causes (48 percent).

“This year’s study, more than ever, tells us that when wealthy donors are intentional about and engaged in their giving -- when they find that meaningful intersection between their ideas and ideals -- they give more, are more impactful and more personally fulfilled," says Claire Costello, national philanthropic practice executive for U.S. Trust.

“This is where an advisor can play a crucial role for the client,” Costello says. “We know that advisors are not having this conversation as much as they should. A conversation about philanthropy can enhance the client/advisor relationship.”

The UBS survey also revealed that giving is up among the wealthy, but it found that only 20 percent of millionaires rate their giving approach as highly effective, and only 41 percent are highly satisfied with the impact they have made on their broader communities and society.

Twenty-three percent of millionaires donate to charities reactively as requests come in and only 9 percent plan their philanthropic giving ahead of time, the study says. Those with at least $5 million are more likely to plan their giving and more likely to rate their giving experience as highly effective, says UBS.

“What we found is that investors with over $5 million are more satisfied and effective givers, but not because of their ability to give a high dollar amount; rather, it’s because of the strategic planning they put into their philanthropic giving. Investors below $5 million would do well to replicate this planned approach to giving,” says Paula Polito, client strategy officer, UBS Wealth Management Americas.

UBS also found that baby boomers and the World War II generation tend to give more to traditional institutions, such as their alma maters and religious organizations, while Gen Xers and millennials gravitate toward causes focused on practical outcomes, such as fighting diseases and children’s programs.