Chapter 32: High-Net Worth Household Giving Insights
This chapter is documenting philanthropic behaviors of affluent people, described here as High Net Worth Households (HNWHs), an important population for nonprofits and fundraisers. It is based on a nationally representative survey developed by the IU Lilly Family School of Philanthropy’s Research Department and a team from Bank of America (BOA). Over 1,600 U.S. households completed the survey in early 2021. Readers of this chapter will explore: HNWH charitable giving patterns and trends, motivations and decision-making within HNWH philanthropy, implications of political donations and tax policy for charitable giving, and implications for fundraising. Fundraisers must be sensitive to the personal circumstances of each household while using data like in this chapter to inform their efforts.
Patrick Rooney
Patrick Rooney, Ph.D., is the Glenn Family Chair in Philanthropy, Professor of Economics and Philanthropic Studies, and the Executive Associate Dean for Academic Programs at the Indiana University Lilly Family School of Philanthropy. A nationally recognized expert on philanthropy and charitable giving, Dr. Rooney has published many academic and practitioner-focused papers, speaks frequently across the country, and has served on nonprofit boards and advisory committees. He earned his B.A., M.A., and Ph.D. in Economics at Notre Dame.
Kidist Yasin
Kidist Yasin is a doctoral student in Philanthropic Studies at the Indiana University (IU) Lilly Family School of Philanthropy. Kidist received her B.A. and M.S.C. degrees in Economics from Dire Dawa University and Addis Ababa University, respectively, both located in Ethiopia. She also obtained an advanced Master’s degree in Development and Globalization from the University of Antwerp in Belgium. She has experience lecturing university students on various economics topics and supervises undergraduate students working on research projects.
Lijun He
Lijun He, Ph.D., is currently a financial advisor at Merrill Lynch Wealth Management at Seattle Market. In her current role, she primarily works with high net worth individuals and families. Lijun also serves as Vice Chair of P.E.A.R.L. Institute of New York, a nonprofit dedicated to mental health well-being of Asian American and Asian Pacific Islanders. Previously, she worked as Assistant Professor in Nonprofit Management at Pace University. She earned a doctoral degree in philanthropic studies with a minor in nonprofit management at the Indiana University Lilly Family School of Philanthropy in 2015.
Patrick Rooney, Kidist Yasin, and Lijun He discuss the chapter with Bill Stanczykiewicz, Achieving Excellence editor and Director of The Fund Raising School.