Philanthropists harbor large ambitions in terms of the problem of global
poverty, and the most effective path ahead may entail coordination of
efforts. These are some of the key findings revealed today from a new
Forbes Insights study, supported by Credit Suisse, titled "Alleviating
Global Poverty: Catalysts of Change."
The global study, which surveyed 317 individuals with investable assets
of $1 million or more, explores the question of how a philanthropist can
best help mitigate global poverty. To access the study, please go to http://forbes.com/forbesinsights/Credit_Suisse_2013.
The study is one of the most in-depth surveys ever conducted of global
philanthropists regarding their views on alleviating global poverty, as
well as their personal philanthropic approaches and practices. In
addition, the study reflects interviews with prominent global
philanthropists, furthering the discussion around global poverty
initiated during this summer's second annual Forbes 400 Summit on
Philanthropy.
"Forbes Insights provides unique access to and a deep understanding of
the Ultra High Net Worth market. We're pleased to be able to partner
with Credit Suisse on this second annual study on those who have
achieved great wealth and their attitudes and best practices for their
philanthropic investments," said Bruce H. Rogers, Chief Insights Officer
for Forbes Media.
"The Forbes 400 Summit on Philanthropy creates a venue for some of the
world's leading philanthropists to share ideas and develop sustainable
solutions to help alleviate global poverty," said Dr. Philip Vasan, Head
of Credit Suisse Private Banking for the Americas. "This study extends
that important conversation and seeks to answer the question of how best
to build a philanthropy portfolio, and how to pass its core values on to
the next generation."
Key findings include:
? Ambitions run high, with 73% of philanthropists saying they want to
see pattern changes at the highest levels, as they seek to affect
international or government policies right at the start of their
giving. A problem as huge as global poverty can be alleviated only by
systemic change.
? Forty-eight percent of survey respondents agree that there are too
many overlapping organizations within the non-profit sector. While
individual philanthropists often want to make their own imprint, the
most effective approach for a philanthropist tackling global poverty may
be to join forces with other experienced philanthropists or
organizations, or to become a "venture philanthropist" by seeding the
initiatives of others.
? The largest percentage of respondents (42%) focus on targeted and
local giving, 29% focus on global giving and the remaining 29% on
either or both. Among philanthropists with investable assets of more
than $50 million, 40% say they focus on global issues.
? The research shows that philanthropy can be viewed as a portfolio,
with some assets devoted to global initiatives--which entail
systemic change and have longer turnarounds--and some to local
initiatives, which can have a necessary, immediate impact. Roughly the
same number of philanthropists surveyed (26% and 23%, respectively)
define success as focus on long-term impact and as alleviating physical
suffering or meeting immediate needs.
About Forbes Insights
Forbes
Insights is the strategic research and Thought Leadership practice
of Forbes Media, publisher of Forbes magazine and Forbes.com,
whose combined media properties reach nearly 50 million business
decision makers worldwide on a monthly basis. Taking advantage of a
proprietary database of senior-level executives in the Forbes
community, Forbes Insights conducts research on a host of topics of
interest to C-level executives, senior marketing professionals, small
business owners and those who aspire to positions of leadership, as well
as providing deep insights into issues and trends surrounding wealth
creation and wealth management. forbes.com/forbesinsights
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Credit Suisse as of the date of writing and are subject to change. It
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Credit Suisse
Perrin Wheeler, 212-325-8978
Perrin.wheeler@credit-suisse.com
or
Forbes
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Carbonell, 212-620-2288
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