THE BLOG
08/31/2009 05:12 am ET Updated Dec 06, 2017

Good News about Global Giving

Here is a very upbeat assessment of global philanthropy from high net worth families from Barclay's.  In addition to concluding that giving by wealthy families is holding up well during the recession, it argues that a massive generational shift is about to occur that will drive major changes in the market.
The whole report is worth reading (it's short, with lots of good graphs), but here are my takeaways:
* The wealthy feel an increasing obligation to be socially engaged.
* The young (age 18-34)  are  almost  twice  as  likely to feel responsible for sharing their wealth as their parents (age 55+)
* The young (aged 18-35) are twice or three times more likely that those 55+ to view global causes and climate change as important.  
* Donors increasingly want to see the results of their philanthropy before they die.
* Though overall giving is down a few percent, many of the most engaged wealthy are giving more, not less, during this economic downturn.  They say they are prioritizing charitable giving over holidays, eating out, and luxury goods.  Only expenditures on education take precedence.