Make us your home page

As Florida millionaires tout more giving, many are cutting back, survey says

A majority of Florida millionaires feel a responsibility to help society's less fortunate and believe they should give a substantial amount to charities, according to a survey released Tuesday.

However, the online polling by PNC Wealth Management found, that desire to share doesn't mean a bigger injection of wealthy largesse will be flowing to the needy this year.

About 24 percent of wealthy Floridians surveyed said they personally plan to cut back on the amount they give to charity, 49 percent plan no change, and only 15 percent intend to increase their giving.

Survey takers focused on the positive findings.

"It is encouraging to see that millionaires, considering today's economic headwinds, recognize a personal responsibility to give back," R. Bruce Bickel, senior vice president of PNC Wealth Management, said in a statement.

Among the findings:

• Fifty-seven percent said they believe they bear a special responsibility to help the less fortunate and 59 percent advocate giving substantial sums to charity.

• The number of wealthy Floridians who donated more than $25,000 to charity more than doubled, from 8 percent to 19 percent.

• Most millionaires agreed with billionaire Warren Buffett's call for the superwealthy to pay more in taxes and give more to charity. But only 6 percent said they're able to help in the way Buffet suggests. About 58 percent said they agreed but were not "in the same league" as the oracle of Omaha.

• More than three-fourths of the millionaires said they were "much better off compared to parents at this same age." But only 13 percent believe their children will be better off when they reach the same age.

• There's little consensus on policy. About 36 percent support cutting taxes as the single best way to improve the economy, while 17 percent suggest raising taxes on the wealthy would be the single best action.

• The millionaires are largely united in at least one area: only 1 percent think the U.S. government is functioning well. Eighty percent agree that the government has serious flaws in how it's working.

The eighth annual survey polled 1,097 millionaires, including 108 millionaires in Florida. The Florida slice of the survey had a sampling error of plus or minus 9.4 percent at the 95 percent confidence level.

Jeff Harrington can be reached at (727) 893-8242 or

As Florida millionaires tout more giving, many are cutting back, survey says 01/17/12 [Last modified: Tuesday, January 17, 2012 7:06pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Tampa Bay among top 25 metro areas with fastest growing economies

    Economic Development

    Tampa Bay had the 24th fastest growing economy among 382 metro areas in the country for 2016. According to an analysis by the U.S. Bureau of Economic Analysis, Tampa Bay's gross domestic product, or GDP, increased 4.2 percent from 2015 to 2016 to hit $126.2 billion.

    Tampa Bay had the 24th fastest growing economy in the country for 2016. Rentals were one of the areas that contributed to Tampa Bay's GDP growth. Pictured is attorney David Eaton in front of his rental home. 
  2. Tampa Bay cools down to more moderate home price increases

    Real Estate

    The increase in home prices throughout much of the Tampa Bay area is definitely slowing from the torrid rate a year ago.

    This home close to Bayshore Boulevard in Tampa sold for $3.055 million in August, making it Hillsborough County's top sale of the month. [Courtesy of Bredt Cobitz]
  3. With successful jewelry line, Durant High alum Carley Ochs enjoys 'incredible ride'



    As a child Carley Ochs played dress up, draped in her grandmother's furs.

    Founder Carley Ochs poses for a portrait in her Ford Bronco at the Bourbon & Boweties warehouse in Brandon, Fla. on September 19, 2017. Ochs is a Durant High and Florida State University graduate.
  4. At Menorah Manor, planning paid off during Irma

    Nursing Homes

    ST. PETERSBURG — Doris Rosenblatt and her husband, Frank, have lived in Florida all of their lives, so they know about hurricanes.

    Raisa Collins, 9, far left, works on a craft project as Certified Nursing Assistant Shuntal Anthony holds Cassidy Merrill, 1, while pouring glue for Quanniyah Brownlee, 9, right, at Menorah Manor in St. Petersburg on Sept. 15. To help keep its patients safe during Hurricane Irma, Menorah Manor allowed employees to shelter their families and pets at the nursing home and also offered daycare through the week. The facility was able to accommodate and feed everyone who weathered the storm there. [LARA CERRI   |   Times]
  5. After Irma, nursing homes scramble to meet a hard deadline

    State Roundup

    TALLAHASSEE — Florida's nursing homes and assisted-living facilities find themselves in an unfamiliar place this week — pushing back against Gov. Rick Scott's administration over new rules that require them to purchase generator capacity by Nov. 15 to keep their residents safe and comfortable in a power …

    In this Sept. 13 photo, a woman is transported from The Rehabilitation Center at Hollywood Hills as patients are evacuated after a loss of air conditioning due to Hurricane Irma in Hollywood. Nine have died and patients had to be moved out of the facility, many of them on stretchers or in wheelchairs. Authorities have launched a criminal investigation to figure out what went wrong and who, if anyone, was to blame. [Amy Beth Bennett | South Florida Sun-Sentinel via AP]