Distrust of Nonprofits Dampens Giving by Rich, Survey Says

Fear that money they give to a charity “won’t be used wisely” is the top reason given by wealthy Americans for why they don’t donate more, according to a new poll, CNBC reports.

Lack of knowledge of or connection to an organization and concerns that one gift will trigger a barrage of requests for others also contributed to the wealthy giving less, the survey by private bank U.S. Trust and Phoenix Marketing International found.

The poll revealed an apparent disconnect between the rich and financial advisers, who said the No. 1 reason their clients don’t give more is that they “would not have enough money to leave heirs.” Advisers were also far more likely than wealthy respondents to link giving to the estate tax.