Bloomberg Businessweek
Charitable Giving, The Business of Affordable Baby Food
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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Quick takeaways
- Affluent US households show a strong trend in charitable giving, with 91% participating annually, especially in December's peak donations.
- Economic conditions notably influence philanthropic activities, as younger generations prioritize modern issues like education and social justice over traditional giving.
Deep dives
Trends in Philanthropy Among Wealthy Americans
Recent data indicates a strong trend of generosity among affluent households in the United States, with 91% actively participating in charitable giving each year. December is particularly significant, as it accounts for 30% of annual donations, with the last few days of the year witnessing a surge in contributions. Wealthy individuals not only donate money but also engage in volunteering and serve on boards, emphasizing a commitment to social impact beyond financial contributions. The relationship between market performance and the willingness to give highlights how economic conditions play a pivotal role in shaping philanthropic activities.
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