Forbes Insights and Credit Suisse Reveal Results of New Study Examining Philanthropists' Approaches to Tackling Global Poverty

  Forbes Insights and Credit Suisse Reveal Results of New Study Examining
  Philanthropists' Approaches to Tackling Global Poverty

Global study follows second annual Forbes 400 Summit on Philanthropy and finds
              desire for systemic changes at the highest levels

Business Wire

NEW YORK -- September 17, 2013

Philanthropists harbor large ambitions in terms of the problem of global
poverty, and the most effective path ahead may entail coordination of efforts.
These are some of the key findings revealed today from a new Forbes Insights
study, supported by Credit Suisse, titled "Alleviating Global Poverty:
Catalysts of Change."

The global study, which surveyed 317 individuals with investable assets of $1
million or more, explores the question of how a philanthropist can best help
mitigate global poverty. To access the study, please go to
http://forbes.com/forbesinsights/Credit_Suisse_2013.

The study is one of the most in-depth surveys ever conducted of global
philanthropists regarding their views on alleviating global poverty, as well
as their personal philanthropic approaches and practices. In addition, the
study reflects interviews with prominent global philanthropists, furthering
the discussion around global poverty initiated during this summer’s second
annual Forbes 400 Summit on Philanthropy.

“Forbes Insights provides unique access to and a deep understanding of the
Ultra High Net Worth market. We’re pleased to be able to partner with Credit
Suisse on this second annual study on those who have achieved great wealth and
their attitudes and best practices for their philanthropic investments,” said
Bruce H. Rogers, Chief Insights Officer for Forbes Media.

"The Forbes 400 Summit on Philanthropy creates a venue for some of the world’s
leading philanthropists to share ideas and develop sustainable solutions to
help alleviate global poverty," said Dr. Philip Vasan, Head of Credit Suisse
Private Banking for the Americas. "This study extends that important
conversation and seeks to answer the question of how best to build a
philanthropy portfolio, and how to pass its core values on to the next
generation.”

Key findings include:

• Ambitions run high, with 73% of philanthropists saying they want to see
pattern changes at the highest levels, as they seek to affect international or
government policies right at the start of their giving. A problem as huge as
global poverty can be alleviated only by systemic change.

• Forty-eight percent of survey respondents agree that there are too many
overlapping organizations within the non-profit sector. While individual
philanthropists often want to make their own imprint, the most effective
approach for a philanthropist tackling global poverty may be to join forces
with other experienced philanthropists or organizations, or to become a
"venture philanthropist" by seeding the initiatives of others.

• The largest percentage of respondents (42%) focus on targeted and local
giving, 29% focus on global giving and the remaining 29% on either or both.
Among philanthropists with investable assets of more than $50 million, 40% say
they focus on global issues.

• The research shows that philanthropy can be viewed as a portfolio, with some
assets devoted to global initiatives—which entail systemic change and have
longer turnarounds—and some to local initiatives, which can have a necessary,
immediate impact. Roughly the same number of philanthropists surveyed (26% and
23%, respectively) define success as focus on long-term impact and as
alleviating physical suffering or meeting immediate needs.

About Forbes Insights

Forbes Insights is the strategic research and Thought Leadership practice of
Forbes Media, publisher of Forbes magazine and Forbes.com, whose combined
media properties reach nearly 50 million business decision makers worldwide on
a monthly basis. Taking advantage of a proprietary database of senior-level
executives in the Forbes community, Forbes Insights conducts research on a
host of topics of interest to C-level executives, senior marketing
professionals, small business owners and those who aspire to positions of
leadership, as well as providing deep insights into issues and trends
surrounding wealth creation and wealth management.forbes.com/forbesinsights

About Credit Suisse Group

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Disclaimer

This document was produced by and the opinions expressed are those of Credit
Suisse as of the date of writing and are subject to change. It has been
prepared solely for information purposes and for the use of the recipient. It
does not constitute an offer or an invitation by or on behalf of Credit Suisse
to any person to buy or sell any security. Any reference to past performance
is not necessarily a guide to the future. The information and analysis
contained in this publication have been compiled or arrived at from sources
believed to be reliable but Credit Suisse does not make any representation as
to their accuracy or completeness and does not accept liability for any loss
arising from the use hereof.

Contact:

Credit Suisse
Perrin Wheeler, 212-325-8978
Perrin.wheeler@credit-suisse.com
or
Forbes
Mia Carbonell, 212-620-2288
mcarbonell@forbes.com
 
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