Charitable giving among ultra affluent individuals increases proportionally with wealth and is not greatly impacted by economic downturns, tax law changes or the events of September 11, according to a new Citigroup Private Bank survey.

The survey was included in The Private Bank’s client magazine (circulation 5,800) with additional distribution at a bank event in October 2001. Among the respondents, a little more than half possess a net worth between US$3 million and US$25 million with the remaining respondents having assets in excess of US$25 million.

This group represents the bulk of the nation’s charitable dollars. According to the IRS, the 2% of tax returns with $200 million+ adjusted gross income donated $42 billion to charity in 1999.

The survey found that an increase in personal wealth is the most significant influence on giving, with 79% of respondents citing an increase in wealth as the reason for an increase in giving over the last 10 years.

Only 44% say events of September 11 changed their giving (31% for $25 million+ group). The economy is a determining factor for only 7% of respondents, while 59% said estate tax changes would not impact giving.

High-net worth donors give a significant portion of income and support to charities (60% donate more than 5% of income).

The top two charities are education (27%) and religion (20%). Personal values (76%) and personal interest/passion (67%) are the determining factors in identifying causes, while personal involvement is key to choosing funding opportunities.

“The giving habits of the wealthy have a tremendous impact on the nation’s — and increasingly the world’s –charitable causes.” said Claire Costello, head of The Private Bank’s Philanthropic Services Practice. “I am not surprised at these results. Many of our clients are actively and continually looking for charitable outlets that reflect their personal and family values.”