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Charitable Giving Surge in Late 2023
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Overview
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Donors granted over $6.1 billion to charity in 2023, with a 31% increase compared to the previous year. Advisors from firms like Helium Advisors, Knox Grove Financial, Premier Financial Partners, and G&P Financial observed an increase in charitable giving among high-net-worth clients. The trend is expected to continue in 2024, driven by rising wealth and a growing charitable giving culture.
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How might the surge in charitable giving impact the financial stability and strategies of high-net-worth clients?
In what ways could the increase in charitable giving affect the broader philanthropic landscape and community development?
What factors contribute to the growing charitable giving culture among high-net-worth individuals?
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