Fewer millionaires are giving to charity, at least in Australia

By Erin Hong

For the Deseret News

Published: Tuesday, May 8 2012 2:18 p.m. MDT

Despite many charities available, fewer millionaires in Australia are willing to donate.

Tom Smart, Deseret News

Enlarge photo»

SYDNEY — Every year since 2009, nearly 40 percent of Australian millionaires have ceased to donate to charities, according to The Sydney Morning Herald.

From 2009 to 2010, donations from people who made more than $1 million ($1.01 million U.S. dollars) fell from $511 million to $119 million.

If people were forgetting to claim their donation, Peter Winneke, the head of philanthropic services at Myer Family Company, argued that their donations would have been small for someone to forget.

"Some people are concerned they need their money for their business or wealth creation," said Andrew Thomas, manager of philanthropy at the investment house Perpetual. "They haven't experienced the joy that comes from helping people other people, or like Steve Jobs [of Apple] they rationalize their non-giving by criticizing the charitable originations for wastage and duplication."

Winneke suggests a national education campaign would be used to promote a philanthropic culture, according to the article.

Email: ehong@desnews.com

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