Bank of America Private Bank study shows 89% of wealthy Americans give to charity in 2025
BAC•A Bank of America Private Bank study found that 89% of wealthy Americans donated to charity in 2025, while 49% volunteered, up from 42% in 2023. Just 47% said the next generation was prepared to carry on philanthropy, down from 55% in 2024.
1. Giving and volunteering
The study found that 89% of wealthy Americans donated in 2025 and 49% volunteered, up from 42% in 2023. Younger donors supported an average of 12 causes, compared with eight across all respondents.
2. Giving methods and succession
Direct cash giving was reported by 56% of younger donors, compared with 92% of older donors. Donor-advised fund use remained near 10%, though 75% of users planned to increase contributions over the next three years. The share who viewed the next generation as prepared for philanthropic succession fell to 47% from 55% in 2024.
