Wealthy donors typically fall into one of six categories according to new research from Barclays Wealth. The resulting report, Philanthropology: The Evolution of Giving, contains profiles drawn from the responses of 500 high net worth investors in the United Kingdom and the United States. 

Though there are significant differences among the six types, they share a common entrepreneurial approach to giving and aim to make as big an impact as possible.

Privileged youth

Typically younger, these donors have inherited their wealth. Giving time and energy to charitable causes offsets some of their guilt about their comfortable lifestyles. They are very generous with their time, and use their social networks to support social welfare causes across the globe. 

Eco givers

Eco givers are most likely to be young females who have worked hard for their wealth. They expect a high degree of accountability from the charities they support. This group primarily supports environmental charities. 

Altruistic entrepreneurs

This group comprises middle-aged business owners with strong ties to their roots. They have earned their own wealth and strongly believe that sharing it is a duty. Their philanthropic behaviour is often driven by their desire to support the communities in which they grew up. 

Reactive donors

High-earning male executives dominate this group. They usually give to charity because they believe their peers expect it, rather than through a social or moral conviction. They also tend to give indirectly through purchases from brands that support charities. 

Cultured inheritors

In their late 50’s and 60’s, these donors generally have created their own wealth, although some have also inherited it. They plan both to leave their wealth to their families and continue the legacies of parents who may have been heavily involved in charitable work. Their social and moral beliefs drive their motivation to give. 

Professional philanthropists

Consisting of high-level executives and successful business owners, this is the oldest group. Nearly all of them have created their wealth rather than inheriting it. They donate, but also support charities by offering their business expertise. That leads them to be more demanding of charities as they expect to see the impact of their donations. 

Emma Turner, head of client philanthropy at Barclays, advises, “Alongside traditional giving, charities should increasingly be welcoming the non-financial support and entrepreneurial skills that a lot of today’s wealthy can bring.” 

An earlier Barclays report published in July 2009 found that respondents were still highly committed to giving, despite their assets and businesses being under strain in challenging economic conditions. The research revealed that 75 per cent of respondents had not decreased their charitable contributions, while 26 per cent had increased their giving in the last 18 months.