Entrepreneurs are leading the way in American philanthropy, according to a recently published study by Fidelity Charitable. The research we conducted led to insights on the qualities and approaches that set entrepreneurs apart in their philanthropy.
Key findings include the following:
- Outsized impact: Entrepreneurs donate 50% more than others, and they volunteer more hours.
- Philanthropy as identity: Nearly half of entrepreneurs consider themselves philanthropists, compared with less than a third of non-entrepreneurs.
- Unique approaches: Entrepreneurs are more personally involved in their giving than non-entrepreneurs.
- Financially savvy philanthropy: Entrepreneurs are more likely to discuss their giving with advisors and are more likely to leave a charitable legacy gift than non-entrepreneurs.
- Planning for the future: Of the entrepreneurs that are considering near-future exits to their businesses, 69% hope to incorporate charitable giving into their exit plans.
We conducted this survey among 3,000 adults in the U.S., including 708 current or former business owners, this year.