Ultra Wealthy give their time to charitable organizations

January, 2011

Although the recession has cut into the monetary receipts of charitable organizations, wealthy individuals still give generously of their time. The average number of hours donated during a typical year averaged 70 in 2010. Wealth levels, age, and job seniority all influence how many hours people donate to charitable organizations per year.

• Millionaires donate an average of 137 hours to charity each year. About 30% give less than 40 hours and 30% give 41 to 50 hours.

• Older Investors are more likely than their younger peers to give 101 or more hours to charity. Nearly 70% of the youngest investors give up to 50 hours to charity each year.

• Wealthy investors are more likely to give 51 or more hours a year to charity. About two-thirds of the less wealthy of the Millionaires give up to 50 hours a year.

• Senior Corporate Executives are most likely of the occupations to donate 101 or more hours a year. Professionals tend to give less time with nearly three-fourths giving 50 hours or less.

Investors who are between 56 and 65 are most likely to donate 501 or more hours to charity each year, and more than 40% of the younger investors donate between 51 and 500 hours a year to charitable organizations.