What wealthy donors want

Ever wonder what it's like to be one of your donors? There's an interesting study out from the University of Pennsylvania's Center for High Impact Philanthropy that doesn't quite get you into your donors' heads, but it does give you a look at how some high-end donors think: "I'm Not Rockefeller": 33 High Net Worth Philanthropists Discuss Their Approach to Giving (PDF).

(It's also summarized in the Chronicle of Philanthropy at New Study Sheds Light on What Wealthy Donors Care About; Many Say They Will Support Operating Costs.

It's worthwhile just hearing what they say. Sometimes surprising. I found three interesting points:

1. Their main source of information on what organizations to support is social contacts:

... most donors said they choose which charities to support by relying on information obtained from peers and other social contacts, rather than doing research or turning to watchdog organizations ...

2. They prefer to support tangible projects:

Donors frequently reported that it is difficult to track the results of their gifts. Consequently, some said that they intentionally give to tangible or time-limited projects such as a new building or a scholarship with easy-to-observe results.

3. But most don't mind helping cover operating costs.

The report is worth reading.

Technorati Tag: fundraising

Comments

[Peter Panepento]

Thanks for pointing out our story.

If anyone is interested learning more about this topic, I'd like to point you a really interesting discussion we hosted between our readers and billionaire philanthropist Lorry Lokey. The discussion really gets into the mind of a wealthy donor. And it offers a window into what others like Mr. Lokey are thinking about when they make decisions about giving.

The transcript is here:
http://philanthropy.com/live/2008/01/topdonors/