Wealthy Donors Increasingly Volunteering for Education

Education-minded philanthropists are increasingly volunteering as well as, or instead of, giving money to schools and programs, according to New York Times financial columnist Paul Sullivan. He cited conversations with donors, educators, and a recent Bank of America report on giving by the wealthy.

The study of high-net-worth households found that 89 percent of respondents had volunteered their time this year, up from 79 percent in 2009. Claire Costello, philanthropic-practice executive at Bank of America’s United States Trust division, said researchers also found that donors’ personal satisfaction with their giving derived more from engagement than contributing money.

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