A recent study commissioned by the Scorpio Partnership, a UK wealth management firm, provides new insight into giving patterns of the world’s wealthiest. Scorpio surveyed 3,300 people with an average net worth of $2 million. As these high net worth individuals (HNWI) plan to substantially increase their wealth within the next decade, they have the potential to become philanthropists for whom to watch.

The study found that the sample group took 36 days to decide on making a major charitable donation (which averaged $14,000). In outlining steps of the donation process, the study found that overwhelmingly HNWI consider staff efficiency, brand, and digital information of incredibly high importance to their decision-making. Taking this information to heart, nonprofits can prioritize improving their digital marketing, donor stewardship, and implement brand awareness techniques (such as social media marketing).

While tensions over the wealth gap increase, more wealthy patrons are discovering new roles as philanthropists, and realizing their impact in under-served communities. By recognizing and understanding the giving patterns of the “Futurewealthy,” as Scorpio terms this group, charitable organizations can prime themselves to receive and cultivate their next generation of supporters.

The Center for Arab American Philanthropy strengthens the impact of strategic Arab American giving through education, asset building and grantmaking, in order to improve lives and build vibrant communities. To learn more about our work, please visit our website.

Image courtesy Scorpio Partnership

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