Male Entrepreneurs Give to Leave a Legacy; Women More Motivated by Causes

The top reason male entrepreneurs give to charity is a desire to leave a legacy, with 44 percent saying so, compared with 26 percent of women respondents, according to a new survey from Fidelity Charitable.

Female entrepreneurs were most likely to say they were motivated by a specific cause, with 67 percent saying so, compared with 32 percent of male respondents.

The survey is part of a broader study of philanthropy and entrepreneurship based on responses from 301 entrepreneurs with businesses that have more than $1 million in revenue. The study also found differences in the motivations of entrepreneurs who volunteer their time at charities.

While male and female entrepreneurs both reported similar amounts of volunteering per month (7.5 hours for men, 7.3 hours for women), the men were more likely to say they valued the opportunity to network outside their company (40 percent, compared with 35 percent of female respondents) or to help build their professional brand or reputation (39 percent, compared with 28 percent of female respondents).

Women entrepreneurs were more likely to say they found value in volunteering by learning new professional skills (40 percent, compared with 36 percent of male respondents) or by developing leadership skills (46 percent, compared with 31 percent of male respondents).

Other findings:

• 60 percent of female entrepreneurs said they were aware they could donate private equity to charity as a way to avoid capital-gains taxes, compared with 79 percent of male entrepreneurs.
• 34 percent of male entrepreneurs and 32 percent of female entrepreneurs said they had donated appreciated securities directly to a charity.
• 58 percent of male entrepreneurs and 56 percent of female entrepreneurs said they had corporate giving programs at their businesses.
• 78 percent of male entrepreneurs and 82 percent of female entrepreneurs agreed with the statement, “Charitable giving is a critical piece of who I am,” while 56 percent of male entrepreneurs and 53 percent of female entrepreneurs agreed with the statement, “I consider myself to be a philanthropist.”