Saturday, 21st November 2009

 

19 May 2009 - The Wall Street Journal

Rich Feel Guilty About Giving to Charity

It is one thing to feel guilty about buying a $5,000 handbag these days. But are the rich also feeling guilty about giving to charity?

New data compiled by the Chronicle of Philanthropy show a rising number of anonymous donors, perhaps out of a newfound desire to stay out of the wealth spotlight.

In the past 10 months, the proportion of anonymous gifts as a portion of total gifts of $1 million or more surged to 19%. That compares with the 3% to 5% rate more common in the past decade. The Chronicle says 80 gifts valued at $1 million or more were made anonymously from June 2008 to April 2009.

The gifts include the mystery donor(s) that I wrote about last month. But even if you take her $74.5 million out (and I’m guessing it is a she), the proportion of anonymous donations would still be 16%–more than three times the norm.

What gives with the shyness toward giving?

To read the full story go to Robert Frank's Wealth Report.

Read the full story

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