Endowment Giving Increasingly Popular in San Diego, Survey Finds
San Diegans are increasingly considering gifts for endowment among their philanthropic choices, a new report from the San Diego Foundation finds.
The report builds on a 2005 study of the giving habits of affluent San Diegans ages 60 and older. That survey found that 21 percent of respondents considered endowment an attractive choice for charitable giving. The 2007 update, which used the same research methods as the previous study, found 36 percent of respondents held a favorable opinion of giving for endowment. In addition, the 2007 survey found that the percentage of San Diegans who give charitably had increased to 47 percent from 40 percent in 2005.
While local and national news of major gifts, such as those made by Warren Buffett and Ernest Rady, and disaster relief for catastrophic natural events have spurred giving, the foundation also credits the change in donor attitude toward endowment to an ongoing public awareness campaign underwritten primarily by QUALCOMM to promote Endow San Diego. In addition, more than 220 Endow Partners — local nonprofits committed to endowment-building — include Endow San Diego messages in their own communications.
"We set out first to inform San Diegans, to explain how endowment works. When the original gift is invested and only a portion of the earnings are granted out each year, the endowment grows," said Endow San Diego chair Bill Geppert. "Our aim is to inspire San Diegans to use this remarkable way of giving to show their gratitude for all that we enjoy, living [here]."
