Title: Entrepreneurs as Philanthropists
Organization: Fidelity Charitable
Summary: The median donation from entrepreneurs is 50 percent higher than the median gift from other kinds of donors. Entrepreneurs give an average of $3,577 a year, compared with $2,383 for others.
Entrepreneurs are twice as likely to prefer new or innovative nonprofits and, along with their money, they give more of their time to charity; 66 percent said they volunteer three or more hours a month, compared with 55 percent of other donors.
Survey results were drawn from 3,000 people who itemize their taxes.
Additional findings:
- 79 percent of entrepreneurs say charitable giving is a critical part of who they are.
- 47 percent consider themselves philanthropists.
- 69 percent of current business owners who intend to sell or pass their business down to a relative in the next five years also have plans to donate to charity as part of the transfer of ownership.
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