America’s wealthy donors far outstrip those of other countries in the number of gifts of $1-million or more they make, a new study shows.
Americans provided $14-billion of the $19-billion in gifts of $1-million or more made to charity from donors around the world last year, according to the study, which looked at donations from people in China, Hong Kong, the Middle East, Russia, the United Kingdom, and the United States.
These rich donors gave mainly to higher education, which captured 37 percent, or $7.05-billion, of the total, the study noted. The next highest amount went to foundations, which got $2.87-billion, according to the study by London-based bank Coutts and the Indiana University Lilly Family School of Philanthropy.
Researchers said they found 1,250 people who provided nearly 2,000 gifts of $1-million or more.
Most of those gifts went to institutions in donors’ home countries. Just 6 percent went to groups outside their borders, researchers said. The big exception was in the Middle East, whose donors sent 71 percent of their gifts to institutions outside their own countries.