Well, here we are – kicking off 2022 feeling uncertain about the world around us and the ongoing impact of the pandemic. Amidst this uncertainty, we look ahead with hope for a healthy and prosperous new year for those who share their generosity and those who receive. For those of us who have the privilege of working with both those who give and those who receive, here are a few trends to watch for in 2022.
1. Leadership gifts will continue to drive giving. In the most recent 2021 Bank of America Study of Philanthropy: Charitable Giving by Affluent Households, 26% of affluent individuals reported increasing their giving in response to the pandemic to help with direct services to those in need. In addition, the majority of households reported no change in their charitable giving with 15.5% indicating that their giving increased and 21.5% saying they decreased their giving. Looking ahead, while we cannot predict future giving, 74% of affluent households indicated they would not change their long-term philanthropic priorities, 20% expect their charitable giving to be more directed to specific issues, while 5% expect to be less restrictive in their giving. More affluent households created a charitable provision in their will (13% in 2017 vs. 17% in 2020) and more utilized a donor advised fund (5% in 2013 vs. 7% in 2018).