Elsewhere online
March 05, 2013

Study Foresees Big Giving by New Generation of Boston's Rich

Research conducted for the Boston Foundation anticipates as much as $1.6-trillion in philanthropy by the area's most prosperous families in the next half century as a huge wave of generational wealth passes to heirs more likely to give it away during their lifetimes, writes The Boston Globe.

According to the study by Boston College's Center on Wealth and Philanthropy, between $950-billion and $3.9-trillion will change hands over the next several decades, of which 42 percent will likely go to charity.

The foundation commissioned an update of similar research in 2006 to assess the long-term impact of the recession on giving. The study found that the downturn erased about $350-billion in assets that could have flowed to nonprofit groups.