A solid majority of high net-worth Canadians (76%) say they believe it is important to personally give back to their community, according to recent survey conducted for BMO Harris Private Banking.

The results were released Monday to mark National Philanthropy Day.

The survey, conducted by Harris/Decima, also found that, despite the recent recession and market volatility, 62% of affluent Canadians plan on giving away between 1% and 3% of their wealth this year.

Fifty-nine per cent of respondents report that the recession has not impacted their donating habits.

“It is encouraging to see that the majority of high net worth Canadians (adults who have at least $1 million in total investable assets) continue to consider philanthropic initiatives to be an important part of their lifestyle despite the recent economic downturn,” says Marvi Ricker, vice president & managing director, BMO Harris Private Banking. “Incorporating charitable giving into your life, regardless of your financial status, can provide a real sense of personal satisfaction, engagement and the ability to make a difference.”

Among the survey’s other key findings:

> Eighty-nine per cent of those who hold a business as an investment vehicle say that personally giving back to the community is important to them.

> Women (91%) are more likely than men (72%) to say it is important to personally give back to their community.

> Increasing media and public attention on environmental issues has not impacted giving patterns — 81% of respondents indicate that they are not swayed by environmental causes-of-the-day when giving.

“Generally, the survey results validate strong trends we have been seeing among our clients,” continues Ricker. “One of the points that really stood out is the growing number of self-made professionals and business owners who are feeling a strong sense of gratitude regarding their achievements and want to share that success by donating a portion of their financial wealth to the benefit of their communities.”

Not only to affluent Canadians want to give back to their communities, they want to be actively involved on how their funds are used.

A recent Scotia Private Client Group survey found that of the more than one quarter of affluent Canadians who plan to make a significant gift in the future, almost three quarters of them would want to be actively involved in how it is used.

For clients thinking of getting involved in philanthropic initiatives, BMO Harris’ Ricker suggests the following:

> Have a plan:
Get clients to think about an issue or cause that is important to them; one that will motivate them to contribute their time, energy and money.

> Do research:
Cleints should find out about both the cause and the organization they are thinking of getting involved with to understand where their funds could be allocated to greatest effect.

> Offer help:
Help clients determine how much money they will want to dedicate to their cause, whether it be on a regular basis or a one-time donation.

IE