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Apr 1, 2010 12:00 PM
What's Holding the Wealthy Back?
In March 2010, Barclays Wealth, the wealth management division of Barclays Bank PLC, published the results of its survey, “Philanthropy: Barriers to Giving” (www.barclayswealth.com/insights/philanthropy-barriers-to-giving.htm). The survey focused on the attitudes towards philanthropy of 500 high-net-worth individuals in the United States and the United Kingdom, to gain a better understanding of what's holding the wealthy back from giving more to charity.
Bottom line: wealthy individuals should be able to give significantly more than they are presently giving to charity. The survey identified four barriers that restrict increased giving: (1) the current economic uncertainty; (2) a large percentage of potential donors lacking one of three key motivators: the desire to give for familial, societal or religious reasons; (3) concerns about the way charities are run; and (4) the complex relationship between the tax and welfare policies of government and individual philanthropy.
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| Estate Tax | Donor Advised Funds |
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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