Fundraising Talks – October 2025

Welcome to the October edition of Fundraising Talks.

We are starting to feel the summer shift to fall in the cooler air and see the changing colors of the foliage. Just as we enter a new season, we are navigating through shifts and challenges in the higher education sector. In recent years, the wealthiest donors have largely supported philanthropy, while there has been a decline in donors at lower levels. It is unclear how the current economic situation might influence the giving behavior among the affluent community. A recent Chronicle of Philanthropy article noted that the ultra-wealthy are feeling uncertain about where and how to give successfully. Even though 2025 is quite different from 2024, it remains beneficial for development professionals to learn about and understand the philanthropic behaviors of the wealthy.

The 2025 Bank of America Philanthropy Study is the result of a collaboration between Bank of America and the Indiana University Lilly School of Philanthropy. It examines charitable giving patterns, priorities, and attitudes of affluent U.S. households in 2024. Data from 2017–2024 indicates a decline in giving over the years by affluent households. Some key findings from the 2025 study include:

Most affluent households give to charity. In 2024, 81 percent of affluent households donated to charity, compared with less than half (47 percent) of the general population. Of the 19 percent who did not give, 45 percent indicated it was to prioritize their family’s financial needs, and 25 percent cited a lack of connection to an organization. The top reason affluent donors give is their belief in the mission of the organization (58 percent).

Motivations for volunteering include the urge to respond to needs (59 percent) and the belief that their service makes a difference (51 percent). Personal values or beliefs, concern for a particular cause or group, and being asked by others are also listed as motivating factors.

Giving is often local. In 2024, 79 percent of affluent donors focused on giving in their local communities, while 32 percent reported giving at the national level.

Support for higher education is limited but significant. Only 17 percent reported giving to higher education, while 43 percent donated to basic needs. However, based on the distribution of dollars contributed by affluent donors, higher education organizations received the third-highest share of dollars.

Donation amounts are correlated with household net worth. On average, households with less than $1,000,000 in net worth gave $7,490; households with $1,000,000 to $5,000,000 gave $7,384; and households with $5,000,000 to $20,000,000 gave $21,035.

The 2025 study provides a wealth of information on the charitable giving behaviors of affluent families. One reason many affluent households stop giving is because they receive too many requests or overly frequent solicitations from organizations. This is an easy challenge for nonprofits to address by planning donor outreach more thoughtfully. It is also important to consider the types of outreach these individuals prefer, while ensuring that the organization’s mission aligns with donors’ beliefs and values.

In addition to direct giving via check or cash, affluent donors often use other giving vehicles, including donor-advised funds, private foundations, and legacy/planned gifts. We hope the information in the study provides useful insights to better understand the evolving philanthropic landscape among affluent families.

As always, please feel free to reach out with questions, comments, or for any assistance with fundraising research!

Best Regards,
Sapna and USM Advancement Research Team
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