“With an increased demand for services and a decrease in access to government funding, nonprofit organizations need additional money to remain viable and high-net-worth individuals provide a practical option. To understand the charitable behavior of individuals, the literature largely focuses on the drivers or motivations underlying their giving. Through 20 semistructured interviews with high-net-worth philanthropists, this study looked at the reasons behind their giving based on the concept of making an impact. This study found that high-net-worth individuals exhibit a “giving style” that defines a favored approach to making an impact through philanthropic giving as well as specific attributes and engagement preferences for interacting with a nonprofit. This study identified four giving styles: a) transformational, deep systemic change style; b) seed funding / multiplier style; c) feeling the impact style; and d) collaborating partners style, although there are others. The attributes and engagement preferences outline experiential and personal predilections such as preferences about how and when to fund, the type and complexity of activities; and level of engagement with staff, beneficiaries and others. Through conversation and research, nonprofit staff can determine a high-net-worth individual’s general giving style, attributes and engagement preferences, provide complementary activities and engender greater satisfaction and interest with the ultimate aim of generating greater funding from high-net-worth philanthropists. Based on these findings, future research can expand on understanding the activities and communications nonprofits can offer to better align with high-net-worth philanthropists’ attributes, engagement and giving preferences to strengthen relationships and increase personal and financial investments in nonprofit organizations.”
Making an impact with high-net-worth philanthropists: understanding their attributes and engagement preferences at nonprofit organizations, by Muna Deriane, Dissertation, 2019
The fabulous Dr. Muna Deriane’s brilliant dissertation! Now online for your reading enjoyment.