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. welcomes Dr. Kraig Kinchen, Executive Director of 100 Black Men of Indianapolis, for a conversation on how this impactful nonprofit is embracing the power of planned giving. From a career in medicine and corporate America to nonprofit leadership, Dr. Kinchen shares his journey and explains how his organization, rooted in decades of youth mentorship and community empowerment, is now planting seeds for long-term sustainability. With signature programs like summer academies, leadership development, and financial literacy workshops, the 100 has a deep legacy, and now, they're working to ensure their impact extends well into the future through intentional planned giving strategies.
Kinchen explains that a recent consultation with a fundraising agency opened the organization’s eyes to the untapped potential of legacy gifts. While annual giving is essential, he emphasizes that planned gifts; including bequests, IRA distributions, and insurance policies, offer a unique opportunity to deepen donor commitment and maximize tax-friendly contributions. Armed with data showing that 90% of donors who give $500 or more annually have not made a planned gift, Kinchen and his team recognized a golden opportunity: meet supporters where they are today, while helping them plan for how they can support tomorrow.
As Kinchen outlines, one of the biggest hurdles is simply starting the conversation. Many donors assume planned giving is only for the wealthy, or they hesitate to address end-of-life planning. But with support from Endowment Development Services and resources like the Mays Family Institute on Diverse Philanthropy, the 100 is taking an education-first approach, building trust, especially within the Black community where wills and estate plans are less common due to systemic and cultural barriers. Planned giving isn’t just about paperwork; it’s about storytelling, relationship-building, and showing donors they can leave a legacy.
Dr. Kinchen leaves listeners with practical advice: start small, tell your story, and lean on expert partners. Legacy gifts don’t have to be seven-figure estate transfers, sometimes they’re IRAs, insurance policies, or even a car. The point is to open the door to possibility. As he puts it, the motto of the organization, "What they see is what they'll be," applies to donors as much as to youth. When donors see peers giving in meaningful, lasting ways, they’re more likely to follow suit. It’s not just fundraising, it’s future-proofing.
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.
