Our client Fidelity Charitable is putting the giving in Thanksgiving with their new report on family giving traditions.
Key insights from our study of 3,000 respondents who donate to charity and who itemized charitable deductions on their most recent tax returns include the following:
- Strong giving traditions matter: 45% of those who grew up with strong giving traditions donate $5000 or more annually today vs. 36% of those who did not grow up with strong giving traditions.
- Giving traditions are associated with greater happiness: 48% of those who grew up with strong giving traditions consider themselves a very happy person today vs. 33% who did not grow up with strong giving traditions
- Kids are inspired by their parents: 38% of those who grew up with strong giving traditions say their parent(s) inspired them the most in their charitable giving vs. 14% of those who did not grow up with strong giving traditions.
- Families are talking more about giving: 39% said their family’s giving style growing up was consultative or democratic. Today, 72% of respondents say their family’s giving style is consultative or democratic.
Learn more at Fidelity Charitable’s study overview, which includes tips for starting your own family giving traditions [PDF], a guide for creating a family giving plan [PDF] and more. Our recent work for Fidelity Charitable includes a study on entrepreneurs as philanthropists earlier this fall and a study on overcoming barriers to giving prior to Thanksgiving 2017.
