Philanthropy

Uncertainty around the estate tax and other tax rates is causing many wealthy Americans to have second thoughts about how much to donate to charities.

While 90% of wealthy business owners give to charity, only one-fourth of entrepreneurs say their financial advisor helps them plan for it.

What will it take for Americans to think of the words “women” and philanthropy” in the same sentence?

The economic downturn took a toll on how much money wealthy families donated to charity in 2009, with average gift amounts tumbling by 35% from 2007, according to a Bank of America study released on Tuesday.

More than half of investors are maintaining their level of charitable giving in the fourth quarter—whether their advisors choose to help them or not.

The Fidelity Charitable Gift Fund reported on Wednesday that its donors made more than 152,000 grants totaling $531 million during the first six months of 2010, the strongest first half for outgoing grants in the Gift Fund’s 19-year history.

One in four financial advisors expect clients to increase charitable giving to offset anticipated tax hikes, but only 52% of advisors proactively offer charitable planning advice to their clients, according to a survey released Wednesday by the Fidelity Charitable Gift Fund.

Fewer of the wealthiest are giving more and small family foundations are giving more than required.

Schwab Charitable reported Thursday it received record annual contributions to its donor-advised fund in fiscal year 2010, driven by the surge in the stock market last year and the conversion of private foundations to donor-advised funds that were less costly and time consuming.

Despite feeling the pain of the economic slowdown in 2008, Americans continued to give generously to charities, though few as generously as Warren Buffett who has promised to donate 99% of his riches.

As the rich get richer across the globe, high net worth clients in North America have tightened their grip on their wallets.

Sarah Libbey, president of the Fidelity Gift Fund, discusses Roth Conversions and the comeback of giving.

With the tax deadline approaching, investors are deciding whether to convert from a traditional IRA to a Roth IRA. But before they do, advisors have one more conversion strategy: the “charitable offset” strategy.

Donor-advised funds have gained in popularity as more private foundations have seen the benefits of the funds over the complexities of running their own foundation.

At a luncheon, which honored 13 women for their work with New York charities, BofA's Sallie Krawcheck talked about her devotion to the scholarship fund she set up for her childhood prep school.

Over the past decade, the firm's mission has remained the same: to help women build confidence and an open dialogue around financial responsibility and knowledge.

More than one in four, 28%, of wealthy Americans with at least $500,000 in investable assets and annual incomes of $150,000 or more have or plan to cut back on charitable giving due to the economic climate.

The Chronicle of Philanthropy announced a drop in donations for its Top 50 philanthropists.

It took women 70 years to finally gain the right to vote, but it would have only taken 10 if philanthropist and author Helen LaKelly Hunt had anything to say about it.

Contributions in the form of appreciated securities represented 43% of the fund’s total contributions last year.