Giving by Millionaires Explored in Study

A vast majority of Midwest millionaires make regular donations to charity, but most of them give away far less than 1 per cent of their total assets annually, according to a survey conducted for the Mercantile Trust Company in St. Louis.

Among the 312 people surveyed in nine states — Arkansas, Illinois, Indiana, Iowa, Kansas, Kentucky, Missouri, Ohio, and Tennessee — about 95 per cent said they contribute at least twice a year. But over 54 per cent of the respondents said that they gave less than $2,000 to charity each year, according to the survey, conducted by Clayton-Davis & Associates, a St. Louis public-relations company.

Since all respondents had investment assets of more than $1-million, excluding the value of their residences, the survey suggests that most Midwestern millionaires give less than two-tenths of 1 per cent of their assets to charity each year.

To obtain a free copy of the survey results, contact Clayton-Davis & Associates, 8229 Maryland Avenue, St. Louis 63105; (314) 862-7800.