Entrepreneurs Donate and Volunteer More Than Others, Study Shows

Title: Entrepreneurs as Philanthropists

Organization: Fidelity Charitable

Summary: The median donation from entrepreneurs is 50 percent higher than the median gift from other kinds of donors. Entrepreneurs give an average of $3,577 a year, compared with $2,383 for others.

Entrepreneurs are twice as likely to prefer new or innovative nonprofits and, along with their money, they give more of their time to charity; 66 percent said they volunteer three or more hours a month, compared with 55 percent of other donors.

Survey results were drawn from 3,000 people who itemize their taxes.

Additional findings:

• 79 percent of entrepreneurs say charitable giving is a critical part of who they are.
• 47 percent consider themselves philanthropists.
• 69 percent of current business owners who intend to sell or pass their business down to a relative in the next five years also have plans to donate to charity as part of the transfer of ownership.