Study Shows the Super-rich are Not the Most Generous
December 29, 2005 2:49 AM
San Francisco ñ December 19, 2005 ñ Affluent income tax filers under age sixty-five are only half as generous as their more modestly situated peers, according to a new report by NewTithing Group, a philanthropic research organization and developer of donor education tools. The report found no such generosity gap amongst seniors of different wealth levels. If affluent young and middle-aged filers had donated as high a proportion of their investment asset wealth to charity in 2003 as did their less affluent peers, concludes the report, total individual charitable donations would have been over $25 billion higher that year, an increase of at least 17%.
That study by the NewTithing Group is "the first ever IRS-based analysis of giving by assets, age, number of dependents, tax filer status, and gender. Derived from over one quarter of a million individual tax returns, the report was based on unpublished tabulations from the Individual Statistics of Income File for tax-year 2003, the latest year for which data is available."
Wondering what the heck a newthining is? From their website:
NewTithing Group's resources help people determine comfortably affordable donations based on factors such as: income, expenses (including debt), and investment assets (excluding personal homes and possessions). Yet determining how much to give to charity involves each donor's subjective comfort level. The Group thus assumes that the ancient custom of "tithing" still remains a constructive practice for people with income, yet little or no assets.
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