The 2018 U.S Trust study of High Net Worth Philanthropy examined the giving and volunteering practises of wealthy households in the US.

The study found that 93% of high net worth women – those with over $1m – regularly donated to charity, compared to 87% of men.

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Healthcare and medical research was the most popular cause of these wealthy women with 40% funding causes in this sector.

Women were also more likely to volunteer than men, with 52% of women versus 41% of men saying they volunteered regularly.

When asked what their top reason for giving was, 54% of wealthy households stated it was because they firmly believed in the mission of the organisation they were giving to.

A further 42% consistently made charitable donations as they believed their gift could make a difference, and 34% of respondents always gave support to the same cause or organisation year after year.

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Giving to their own

One in five HNW households donated to women’s and girl’s charities in 2017, the average donation amounted to $1800.

When the respondents were asked what motivated their donations to this specific cause, 58% said that it was belief that supporting women and girls is the most effective way to solve other social problems.

African-American most charitable households

Another finding from the High Net Worth Philanthropy report was that 92% of wealthy African-American households frequently gave to charity.

African-American and Hispanic-American households were more likely to support religious charities, at 64% and 59%, respectively, than the high-net-worth population as a whole.