Although the percentage of households giving to charity has declined during the past decade, understanding the philanthropic behaviors of affluent households in the US provides crucial insights for nonprofit leaders. The 2025 Bank of America Study of Philanthropy underscores both continuity and change in the charitable giving landscape.
Key Highlights: Charitable Giving by Affluent Households
- 81% of affluent Americans made a charitable contribution in 2024, with average gifts exceeding $33,000 — more than 10 times the giving level of the general population.
- Personal values remain the strongest motivating factor for why affluent Americans give.
- Donors are increasingly deploying sophisticated giving strategies (e.g., donor-advised funds, private foundations) and applying measurement and evaluation to their grants.
- Volunteering is rebounding, with 43% of affluent households engaging directly in service in 2024.
The study defines affluent Americans as households with a net worth of more than $1 million (excluding the value of their primary home) and/or an annual household income of $200,000 or more.
What the Findings Mean for Nonprofits
In working with nonprofits across sectors and partnering with the Bank of America team in Tampa for more than 15 years, the Nonprofit Leadership Center has identified six key observations and calls to action for today’s nonprofit leaders and organizations.
1. Donor sophistication raises the bar for nonprofits.
As more donors think like “philanthropic investors,” nonprofits must match that sophistication with rigorous impact measurement, transparent reporting, and strategic clarity.
It’s not enough to ask for support. Organizations must articulate why their work delivers results, backed by data and evidence.
Over the years, the Nonprofit Leadership Center has helped nonprofit partners develop stronger evaluation frameworks, sharpen logic models, and focus on outcomes. Now, these capabilities are non-negotiable for ensuring future success.
2. Values alignment is a differentiator.
Personal values remain the strongest driver for charitable giving among affluent Americans. Nonprofits that clearly convey their mission, values and impact will attract more loyal, long-term supporters.
We encourage nonprofits to invest in storytelling and mission clarity — not just in their marketing efforts, but as a foundation for how they engage donors, boards, volunteers, and communities.
3. Diversifying giving vehicles and donor engagement is critical to long-term success.
The shift toward giving vehicles (e.g., DAFs, private foundations) means nonprofits must engage donors earlier, provide flexible giving options, and help donors understand how to integrate support with their broader financial planning.
This data helps local nonprofits better understand how to structure gifts, planned giving, and multi-year commitments — insights that are critical to future success.
4. Volunteers represent future donors.
The rebound in volunteering presents an opportunity: volunteers already have a deeper connection to the mission and are often future donors.
Nonprofits should more intentionally cultivate volunteer-donor pathways, turning engagement into deeper financial support over time. Have patience! It’s the long-game strategy.
5. Generational transition signals promise and urgency.
The study notes a rising number of millennials and Gen Zers who behave as “conscious consumers,” already aligning their spending with values. They represent future major donors.
For the Nonprofit Leadership Center and our nonprofit partners, this means building infrastructure today around digital engagement, transparent impact reporting, and accessible participation so younger donors can more easily see, trust and invest.
6. Partnerships matter, locally and relationally.
Our longstanding relationship with the Bank of America team in Tampa isn’t transactional. It amplifies impact because we share trust, context and alignment.
In today’s environment, philanthropy is more networked. Impact grows when nonprofits, financial institutions, and capacity-builders, such as the Nonprofit Leadership Center, work across systems and collaborate more effectively.
