PNC Wealth Management
At a time when nonprofits need assistance the most – during the deepest recession since the Depression – many of the wealthiest Americans are cutting back on their donations, according to a new survey.
About 28 percent of the more than 1,000 Americans with at least $500,000 in investable assets who were surveyed reported that they either already have or plan to cut back on their charitable giving as a result of the economy. In contrast, just 13 percent of respondents said they have already or plan to increase their donations.
The online survey, commissioned for the past six years by PNC Wealth Management – which is operated by the PNC financial services organization – also showed that 55 percent of the respondents feel a sense of obligation to give back to their communities, compared with 58 percent the previous year.
Free, 8 pages. Contact: (412) 768-3711, http://www.pnc.com and search for “affluent and philanthropy.”