Very wealthy giving less (PNC)

A new study from PNC finds that the recession has resulted in the very wealthy cutting back on their giving "to protect their seven-figure or higher assets". Main findings:

• donation totals of $1 million or more were made by 15 percent of PNC's ultra-wealthy (with $5 million or more in assets) in 2007 to 1 percent in 2009.
  28% of all respondents reported plans to cut back on their charitable giving in 2010 compared to 13 percent reporting an intention to increase.
  25% of the ultra wealthysaid that they were concerned about their "ability to give to charities" compared to 16 percent of respondents with assets between $500,000 and $1 million.

The study had 1,046 respondents over half with more than $1 million in assets, the remainder had more than $500,000 in assets.