Key insights from our study of 3,000 respondents who donate to charity and who itemized charitable deductions on their most recent tax returns include the following:
- Strong giving traditions matter: 45% of those who grew up with strong giving traditions donate $5000 or more annually today vs. 36% of those who did not grow up with strong giving traditions.
- Giving traditions are associated with greater happiness: 48% of those who grew up with strong giving traditions consider themselves a very happy person today vs. 33% who did not grow up with strong giving traditions
- Kids are inspired by their parents: 38% of those who grew up with strong giving traditions say their parent(s) inspired them the most in their charitable giving vs. 14% of those who did not grow up with strong giving traditions.
- Families are talking more about giving: 39% said their family’s giving style growing up was consultative or democratic. Today, 72% of respondents say their family’s giving style is consultative or democratic.
Learn more at Fidelity Charitable’s study overview, which includes tips for starting your own family giving traditions [PDF], a guide for creating a family giving plan [PDF] and more. Our recent work for Fidelity Charitable includes a study on entrepreneurs as philanthropists earlier this fall and a study on overcoming barriers to giving prior to Thanksgiving 2017.