Philanthropy

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.