April 2, 2012 | Read Time: 1 minute
Most affluent individuals give modest amounts of money to charity, a new study has found.
Nearly 40 percent of households with incomes greater than $150,000 give $1,000 to $5,000 annually, according to the study by Phoenix Marketing International, a research company that conducts a monthly survey on the financial preferences of wealthy investors. One-third give at least $5,000, and 17 percent give more than $10,000, the study found.
About 30 percent of those polled said they gave to charity to help those in need, while fewer than 5 percent said they did so to receive a tax deduction. The Phoenix study surveyed more than 2,100 individuals last month.
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