88% of Affluent Households Donated in 2020, New Study Says

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In a year beset with a global pandemic and other crises, the vast majority of wealthy households — 88% — gave to charity in 2020, according to a study from Bank of America and the Indiana University Lilly Family School of Philanthropy. Most affluent donors responded to the pandemic with unrestricted gifts that allowed organizations to spend the money on whatever leaders thought was most important. Roughly three-quarters reported that their contributions to health-related nonprofits and higher education were unrestricted, and more than 83% said they gave unrestricted donations to arts and culture groups.

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