TIME and MONEY: the Role of Volunteering in Philanthropy 2 What Is the Relationship Between Volunteerism and ﬁ Nancial Support for Charity?

TIME AND MONEY The Role of Volunteering in Philanthropy

RESEARCH INSIGHTS

A 2014 survey explored the current volunteering activity of Fidelity Charitable® donors across charitable sectors. The survey investigated the relationship between volunteerism and charitable fi nancial support, the infl uence of age and life stage on volunteer activity, factors donors use to evaluate volunteer commitments, and intent to increase or decrease volunteer activity in the future. Key fi ndings

• Most (79%) Fidelity Charitable® donors volunteered in the last 12 months. Among Among Fidelity Charitable those volunteers, more than two-thirds (67%) committed 50 or more hours to donors in 2014: volunteering, with nearly half (49%) volunteering for three or more organizations. • 84% of volunteers expect to maintain or increase volunteering commitments in 79% VOLUNTEERED coming years. 67% of volunteers • 87% of volunteers say there is an overlap between their volunteer and GAVE 50 OR MORE HOURS fi nancial support. • Half (50%) of volunteers say they give more fi nancial support because they volunteer. 84% EXPECT TO MAINTAIN OR INCREASE VOLUNTEERING • Age and life stage infl uence the amount of time donors give to causes. While younger commitments in coming years donors are more likely to volunteer, they spend fewer hours overall; donors near retirement age volunteer more hours for more organizations. 50% GIVE MORE FINANCIAL SUPPORT because they volunteer What is the prevalence and outlook for volunteerism?

Most Fidelity Charitable When Fidelity Charitable Donors Hours Volunteered During Past Year* Last Volunteered donors volunteered 67% Have not volunteered last year 33% Within the last 12 months 5+ years ago In the last 12 months, nearly 4 in 5 3-5 years ago 7% 79% (79%) donors volunteered1 for a 4% 26% 1-2 years ago % charitable organization, indicating 5 % 22% their interest in providing more than 5 ﬁ nancial support for their charitable causes. 11% Two-thirds (67%) of those volunteers 8% committed 50 or more hours to volunteering, with 41% committing more than 100 hours. Number of Organizations* Nearly half (49%) volunteered for

three or more organizations. 15 hours 5+ Fewer than 15-49 hours 50-99 hours 1 100-499 hours Though fewer than 1 in 10 donors (7%) 500 or more hours have not yet volunteered, this group 2% 17 4 1 % was most likely to cite lack of time and * Among donors who volunteered in the last 12 months. preference for ﬁ nancial support as % 9 reasons for not volunteering.

3 49% 3 2 4

3 or % 8

2 more

Among all Americans in 20132:

25% VOLUNTEERED

* Among donors who volunteered in the last 12 months. 51% of volunteers GAVE 50 OR MORE HOURS

Donors plan to continue Prediction of Future Volunteer Time Most volunteers in America were or increase volunteering involved with ONE (71%) OR TWO (19%) ORGANIZATIONS in the future 84% of volunteers expect 16% to maintain or increase their Decrease commitments over the next few years, including about half (52%) 52% Stay the who plan to keep their current 32% Same commitments at the same level. Increase Less frequent volunteers, who give fewer than 50 hours, are more likely to say they will increase their commitments in the next few years (40% compared to 32% overall), while the most involved volunteers are planning to maintain their current commitments. 60% of those who have volunteered more than 100 hours say they will volunteer the same number of hours in the next few years.

1 In this executive summary, unless otherwise noted, volunteer refers to a Fidelity Charitable donor who has volunteered (93% of sample). In the survey questionnaire, a volunteer was described as “an ofﬁ cer, trustee, or other person who performs services for a charitable organization but does not receive compensation, either directly or indirectly, for those services with the exception of expenses.” A volunteer can perform “a broad range of activities, such as serving as a board member, coaching or refereeing a sports activity, leading scouts, providing support to a religious organization, fundraising for an organization, tutoring, or teaching.” 2 Bureau of Labor Statistics. “Volunteering in the United States.” (2014)

TIME AND MONEY: The Role of Volunteering in Philanthropy 2 What is the relationship between volunteerism and ﬁ nancial support for charity?

Two-pronged support Overlap of Financial Support and Volunteer Work* for charities

Most volunteers support their 87% overlap causes with both time and money— 4% not one or the other. 87% of volunteers say there is overlap between the organizations they support fi nancially 39% 44% 13% and where they volunteer, with 43% describing signifi cant or total overlap with the organizations they support fi nancially and as a volunteer. Volunteer at all of the organizations support financially Significant overlap Some overlap No overlap

* among volunteers

Financial support Financial or Volunteer Support— Which Came First? usually comes ﬁ rst

Volunteers are more likely (58%) to support a charity fi nancially before volunteering. However, 2 in 5 (42%) volunteered at a charity before making a donation to that organization, 42% 58% Volunteer Financial indicating that for a signifi cant Support number of donors, volunteering can be an important way of evaluating an organization for future support. Volunteering can also infl uence charitable contributions. While 45% of volunteers say they give the same amount of fi nancial support as they would if they did not volunteer, half Infl uence of Volunteering on Financial Support (50%) say volunteering leads them to give more fi nancial support. 5% These results suggest that organizations I give less that provide robust volunteer 5% opportunities have an edge in creating a steady donor base and in growing their overall level of fi nancial support. 45% 50% I give I give the same more amount

TIME AND MONEY: The Role of Volunteering in Philanthropy 3 200 Volunteering varies Type of Support by Sector 180PERCENTAGE WHO HAVE VOLUNTEERED AND/OR DONATED RESOURCES TO THIS SECTOR, IN THE LAST 12 MONTHS across sectors 100 80% Few volunteer for sectors that they 160 77% are not also supporting fi nancially. 80 70% However, they do not devote their 140 63% 60% time equally—volunteers are more 60 50% heavily concentrated in some sectors 120 over others. 40 29% Volunteers are most likely to donate time and fi nancial resources to 20 organizations that support religion (70% volunteer and donate), education 0 (52%), and human services (48%), Ƅ while organizations that support Education Religion Human Arts & Health Environment/ International environment and animals (26%) and Services Culture Animals Affairs international affairs (15%) are more likely to receive fi nancial support alone from supporters. PROPORTIONS OF THOSE WHO VOLUNTEER, DONATE AND VOLUNTEER & DONATE Sectors with high rates of volunteerism have several commonalities, including 200 regular touchpoints with potential Volunteer Volunteer & Donate Donate volunteers and mature structures for 180 1% 1% 100 8% 10% 5% 8% 6% volunteer engagement. Conversely, 15% practical considerations likely reduce 160 26% volunteer rates in other sectors; 80 30% 31% 52% volunteers may need specialized 140 70% 48% skills or may not have easy access to 60 volunteer opportunities. 120 84% 40 65% 61% 68% 20 40% 42% 29% 0 Ƅ Education Religion Human Arts & Health Environment/ International Services Culture Animals Affairs

TIME AND MONEY: The Role of Volunteering in Philanthropy 4 How do donors choose volunteer opportunities and what roles do they play?

Mission is a critical factor Factors Critical in Deciding Where to Volunteer in volunteerism Mission of organization 85% Volunteers report that an organization’s mission and ability to Serves local community needs 60% serve the community are the most critical factors when determining Ability to use specific skill set 59% whether or not to give time to an organization. 85% say mission is a Organization’s reputation 54% critical factor, while 60% say ability to serve their local community Type of volunteer work 52% is important. Provides an opportunity to 44% However, while mission comes fi rst, feel good about giving back donors are also seeking meaningful Provides flexibility to do volunteer 28% volunteer opportunities. The ability to work from home or on my time use a specifi c skill set (59%) and the Relative convenience 24% type of volunteer work (52%) factor of location heavily into the decision about where Number of hours required 20% to volunteer. Volunteers see these as far more important factors compared Offers opportunities to 14% to fl exibility in location (28%), relative volunteer with family convenience of location (24%), and Recommendation by family, 12% the number of volunteer hours friends, coworkers required (20%). Received past assistance 10% from organization

A majority of volunteers Description of Volunteer Work support programs, many take on skilled roles 74%

Nearly three-quarters (74%) of volunteers perform work that helps 54% an organization fulﬁ ll its charitable mission. Additionally, many volunteers 43% deeper describe roles that suggest a 37% involvement in charitable causes— 36% nearly 54% serve on a nonproﬁ t board, 43% assist with fundraising, and 36% donate professional services.

Assist

Serve as a Donate my Volunteer on operations of board member with fundraising Assist withthe day-to-day organization professional services programsthe charity’s to help missionfulﬁll

TIME AND MONEY: The Role of Volunteering in Philanthropy 5 How does stage of life inﬂ uence volunteerism?

Younger donors Volunteered in the Last 12 Months, By Age Hours Volunteered in Last 12 Months, By Age

While most (89%) donors 50 and 89% Total 50 and under 61–70 54% under have volunteered in the last 81% 50% 12 months, this group volunteers 79% fewer hours overall (25% spend 100 41% or more hours, compared to 54% of those near retirement, ages 61-70). 33% 26% However, 50 and under volunteers 25% 25% 25% are optimistic about future time 21% committed to volunteering: 43% plan to increase their volunteering in the next few years. When deciding where to volunteer, younger volunteers also demonstrate Under 50 hours 50–99 hours 100 or more hours Total 61–70 different priorities from the broader volunteer population, indicating 50 and under that they may balance a range of family and career obligations with their philanthropy. Volunteers under * 50 are more likely to consider critical Prediction of Future Volunteer Time, By Age the required volunteer hours (28%, compared to 18% of those near 50 AND UNDER 50 AND UNDER 61–70 61–70 retirement age) and the ability to 2% 2% volunteer with family (34%, compared Decrease Decrease with 8% of those near retirement age). 14% Decrease 18% 18% Decrease Decrease Donors near 54% 43% 55% 43% 55% 51% 51% Stay the Increase Stay the Increase Stay the Stay the Stay the retirement age 32% Same Same Same 31% Same 31% Same Increase Increase Increase On average, donors near retirement age, 61 to 70 years old, spend the most time volunteering (54% spend 100 or more hours, compared to 25% of donors 50 and under). Moreover, 4 in 5 (82%) plan to maintain or increase SKILL SET their volunteer hours in coming years. * Among those who have volunteered in the last 12 months Volunteers 61-70 are also more likely SKILL SET Total 59% to show interest in opportunities that Total 59% 50 and under 51% require a speciﬁ c skill set (65%). 50 and underFactors Critical in Deciding Where51% to Volunteer, By61–70 Age 65% Compared to younger volunteers, volunteers near retirement age 61–70 65% SKILL SET NUMBER OF HOURS are increasing their focus on philanthropy, dedicating more time NUMBERTotal OF HOURS 59% Total 20% to charitable causes as they wind 50 and underTotal 20% 51% 50 and under 28% down their careers, but also looking to engage in volunteer roles that put 50 and under61–70 28% 65% 61–70 18% their skills to work. 61–70 18% NUMBER OF HOURS OPPORTUNITY TO VOLUNTEER WITH FAMILY

OPPORTUNITYTotal TO VOLUNTEER20% WITH FAMILY Total 14%

50 and underTotal 14% 28% 50 and under 34%

50 and under61–70 18% 34% 61–70 8%

61–70 8% OPPORTUNITY TO VOLUNTEER WITH FAMILY

Total 14%

50 and under 34%

61–70 8%

TIME AND MONEY: The Role of Volunteering in Philanthropy 6 METHODOLOGY AND BACKGROUND

This report is based on a survey conducted by Ipsos, an independent research ﬁ rm, in August-September 2014 on behalf of Fidelity Charitable. 354 donors provided information. The percentages reported exclude donor responses of NA/Unsure. Throughout the report, reference to “donors” refers to the primary donor or the primary corporate contact connected to the “Giving Account®. ” All Giving Accounts have one person designated as the primary Account Holder (or in the case of Corporate accounts, the primary Corporate contact), although each Giving Account® may have more than one Account Holder (i.e., person with advisory privileges, including the ability to recommend grants) associated with it.

ABOUT FIDELITY CHARITABLE

Fidelity Charitable is an independent public charity that has helped donors support more than 190,000 nonproﬁ t organizations with nearly $19 billion in grants. Established in 1991, Fidelity Charitable launched the ﬁ rst national donor-advised fund program. The mission of the organization is to further the American tradition of philanthropy by providing programs that make charitable giving simple and effective.

Fidelity Charitable is the brand name for the Fidelity® Charitable Gift Fund, an independent public charity with a donor-advised fund program. Various Fidelity companies provide services to Fidelity Charitable. The Fidelity Charitable name and logo and Fidelity are registered service marks of FMR LLC, used by Fidelity Charitable under license. Giving Account is a registered service mark of the Trustees of Fidelity Charitable. Third party marks contained herein are the property of their respective owners. (712782.1.0)