Retaining a philanthropic adviser can help wealthy donors make the often emotional decisions about where to cut back as the economic downturn takes a bite out of giving, a Dow Jones Newswire columnist writes.
More than half of the well-to-do Americans surveyed recently by PNC Wealth Management said they felt obliged to give back to their communities, but more than a quarter also reported having to cut back on philanthropy in the past two years.
Bruce Bickel, PNC’s head of private foundation management services, said the firm helps clients take some of the guilt out of difficult funding decisions by establishing a giving mission statement and a points-based system to grade how much a given donation will fulfill the overarching mission.
Read more about the PNC giving study in The Chronicle of Philanthropy.
(A paid subscription is required to view the Dow Jones article at the Wall Street Journal site. A paid subscription or temporary pass is required to view the Chronicle article.)
0 Responses to Focus on Mission Can Help Ease Emotional Giving Decisions
phillipsal - March 8, 2010 at 4:38 am
If people have less money to donate, why would they want to spend any of their scarce resources on a philanthropic “advisor?” All of their funds, albeit reduced, will be better used if donated to a good cause.
greeceplan - March 9, 2010 at 4:09 am
Thank you for sharing this