In this donor-focused, data-packed episode of The First Day from The Fund Raising School, host Bill Stanczykiewicz, Ed.D. is joined by Jon Bergdoll, Interim Director of Data and Research Partnerships at Indiana University's Lilly Family School of Philanthropy, to break down the latest findings from the 2023 Bank of America Study of High Net-Worth Philanthropy. Now in its 20th year, the report offers a close-up on the giving habits of households with $1M+ in investable assets or incomes over $200,000.
The numbers tell a nuanced story. While total dollars donated by high-net-worth households remain strong, the percentage of those households giving annually is slipping, a continuation of the “donors down, dollars up” trend seen in the broader population. Volunteering, meanwhile, is bouncing back post-pandemic, now at 43% (up from a 2020 low of 30%) but still below pre-2020 levels. These donors continue to prioritize religion, education, and human services, and they’re increasingly aligning their financial choices, spending and giving alike, with their values.
Local impact matters. Over 70% of high-net-worth donors report giving to causes in their own communities, compared to 32% giving nationally and just 13% internationally. Spontaneity still plays a role, roughly 85% of donors say they sometimes or always give when asked or in response to emerging needs, but effectiveness is key. Donors want to know their gifts are making a difference. Use of giving vehicles like donor-advised funds, private foundations, and IRA distributions is slowly rising, with nearly 1 in 5 affluent households now leveraging at least one structured giving mechanism.
This year’s report also introduces five philanthropic identities: Steadfast Supporters, Devout Donors, Entrepreneurs, Changemakers, and Philanthropic Experts. These profiles offer fundraisers a practical way to understand donor motivations and tailor outreach accordingly.
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In this donor-focused, data-packed episode of The First Day from The Fund Raising School, host Bill Stanczykiewicz, Ed.D. is joined by Jon Bergdoll, Interim Director of Data and Research Partnerships at Indiana University's Lilly Family School of Philanthropy, to break down the latest findings from the 2023 Bank of America Study of High Net-Worth Philanthropy. Now in its 20th year, the report offers a close-up on the giving habits of households with $1M+ in investable assets or incomes over $200,000.
The numbers tell a nuanced story. While total dollars donated by high-net-worth households remain strong, the percentage of those households giving annually is slipping, a continuation of the “donors down, dollars up” trend seen in the broader population. Volunteering, meanwhile, is bouncing back post-pandemic, now at 43% (up from a 2020 low of 30%) but still below pre-2020 levels. These donors continue to prioritize religion, education, and human services, and they’re increasingly aligning their financial choices, spending and giving alike, with their values.
Local impact matters. Over 70% of high-net-worth donors report giving to causes in their own communities, compared to 32% giving nationally and just 13% internationally. Spontaneity still plays a role, roughly 85% of donors say they sometimes or always give when asked or in response to emerging needs, but effectiveness is key. Donors want to know their gifts are making a difference. Use of giving vehicles like donor-advised funds, private foundations, and IRA distributions is slowly rising, with nearly 1 in 5 affluent households now leveraging at least one structured giving mechanism.
This year’s report also introduces five philanthropic identities: Steadfast Supporters, Devout Donors, Entrepreneurs, Changemakers, and Philanthropic Experts. These profiles offer fundraisers a practical way to understand donor motivations and tailor outreach accordingly.
In this episode of The First Day from The Fundraising School, host Bill Stanczykiewicz, Ed.D., sits down with Muhsin Hassan, Managing Director at Lever for Change, to unpack the power, and practicality, of nonprofit collaboration. Drawing from his role advising the Community Collaboration Initiative led by the Muslim Philanthropy Initiative at the Indiana University Lilly Family School of Philanthropy, Hassan explains why partnerships aren’t just nice-to-have, they’re mission multipliers. From maximizing impact during economic downturns to sparking innovation across issue areas, collaboration can create better ideas, stronger fundraising, and more efficient service delivery.
Hassan shares how the initiative brought together 21 Muslim-led nonprofits from across the U.S., ranging from local to national reach, to explore shared solutions. The three-year effort wasn’t donor-driven from the top down, but intentionally designed to listen to community needs and prioritize equity among partners. Common threads emerged between seemingly different missions: healthcare access, education, civic engagement, and refugee support leading to big-picture strategies like “one-stop shop” service models for new Americans. And yes, there was a built-in incentive: each participating organization received a $250,000 grant to implement their collaborative plans.
The conversation digs into what makes collaborations work: intentional design, time to build trust, and intermediaries who handle logistics so nonprofits can focus on the work. The CCI team acted as that connective tissue, setting agendas, facilitating conversations, and ensuring equity between grantees and donors. This created space for candid dialogue, something that doesn’t always happen in traditional philanthropy, and fostered genuine partnerships rather than compliance-driven alliances. Challenges? Of course. Some organizations realized the timing wasn’t right and bowed out gracefully, underscoring the need for flexibility and openness to think beyond one’s own program lane.
Hassan closes with advice for any nonprofit, regardless of cause area or cultural context; there are always lessons to learn from others. Whether you share a target population or simply share the nonprofit experience, collaboration offers unexpected insights and fresh approaches. Skeptics often leave such partnerships with new allies, new knowledge, and stronger strategies. The key is creating opportunities for cross-sector dialogue, maintaining equity among all players, and giving collaborations the time, and resources, to thrive. The full white paper, Collaboration in the U.S. Muslim Nonprofit Sector: Lessons from the Community Collaboration Initiative, is available at the Lilly Family School of Philanthropy’s Muslim Philanthropy Initiative page.
First Day Podcast
In this donor-focused, data-packed episode of The First Day from The Fund Raising School, host Bill Stanczykiewicz, Ed.D. is joined by Jon Bergdoll, Interim Director of Data and Research Partnerships at Indiana University's Lilly Family School of Philanthropy, to break down the latest findings from the 2023 Bank of America Study of High Net-Worth Philanthropy. Now in its 20th year, the report offers a close-up on the giving habits of households with $1M+ in investable assets or incomes over $200,000.
The numbers tell a nuanced story. While total dollars donated by high-net-worth households remain strong, the percentage of those households giving annually is slipping, a continuation of the “donors down, dollars up” trend seen in the broader population. Volunteering, meanwhile, is bouncing back post-pandemic, now at 43% (up from a 2020 low of 30%) but still below pre-2020 levels. These donors continue to prioritize religion, education, and human services, and they’re increasingly aligning their financial choices, spending and giving alike, with their values.
Local impact matters. Over 70% of high-net-worth donors report giving to causes in their own communities, compared to 32% giving nationally and just 13% internationally. Spontaneity still plays a role, roughly 85% of donors say they sometimes or always give when asked or in response to emerging needs, but effectiveness is key. Donors want to know their gifts are making a difference. Use of giving vehicles like donor-advised funds, private foundations, and IRA distributions is slowly rising, with nearly 1 in 5 affluent households now leveraging at least one structured giving mechanism.
This year’s report also introduces five philanthropic identities: Steadfast Supporters, Devout Donors, Entrepreneurs, Changemakers, and Philanthropic Experts. These profiles offer fundraisers a practical way to understand donor motivations and tailor outreach accordingly.
