Millionaires were more generous with their charitable giving last year. But their giving didn't grow as fast as their incomes.
According to a new study from U.S. Trust, which surveyed 632 households with $1 million or more in investable assets and/or an income of $200,000 or more, the average dollar amount given to charity by wealthy donors rose 28 percent, from $53,519 in 2011 to $68,580 in 2013.
Yet average giving as a percentage of household income fell by one percent, as increases in income levels slightly outpaced increases in giving levels, according to the study.
"This year's study, more than ever, tells us that when wealthy donors are intentional about and engaged in their giving—when they find that meaningful intersection between their ideas and ideals—they give more, are more impactful and more personally fulfilled," said Claire Costello, national philanthropic practice executive for U.S. Trust.
Fully 85 percent of those surveyed plan to give as much or more in the next three to five years than they have in the past.
Among the other findings: