Bloomberg Businessweek Charitable Giving, The Business of Affordable Baby Food
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Dec 17, 2024 Dianne Chipps Bailey, National Philanthropic Executive at Bank of America Private Bank, explores the evolving trends in charitable giving, especially among wealthy households, emphasizing shifts towards essential needs post-pandemic. Laura Modi, CEO of Bobbie, discusses the challenges of inflation on her pediatric nutrition company and shares innovative pricing strategies to keep healthy baby food accessible. Both guests highlight the importance of adapting to market dynamics and fostering community support during uncertain times.
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Giving Trends Among the Wealthy
- Wealthy Americans prioritize basic human needs in their giving.
- They also volunteer time and use tools like sustainable investing.
Market Impact on Giving
- Market performance, particularly in December, strongly correlates with charitable giving.
- Economic factors like inflation and interest rates also play a role.
Generational Differences in Giving
- Older generations prioritize religious and veteran causes, while younger generations focus on education and climate.
- Wealth inheritors are less likely to give anonymously, possibly due to family legacy and transparency.