Nearly three-quarters of the wealthy give financially to nonprofit organizations and causes, and they consider philanthropic giving the number one way they make a contribution to society. Another 61 percent actively volunteer their time, skills and services to nonprofit organizations. Sixteen percent work for a nonprofit organization.
Women and millennials in particular are becoming more interested in having a positive influence. The survey showed the use of impact investments grew by double digits over the past year among high-net-worth millennials and women. Ninety-three percent of millennials now say a company’s impact on society is an important consideration when they make investment decisions.
The respondents say making a societal contribution is important because they want to support their values and interests and they believe the wealthy have a moral obligation to share their good fortune with those less fortunate.
The survey also found that a majority feels private enterprise is more effective at creating economic opportunity than government. The survey can be found here.