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February 25, 2014

15 Most Generous American Donors in 2013

The Chronicle of Philanthropy reports giving jumped 4% over previous year

Charitable giving by America’s top philanthropists boomed last year, according to The Chronicle of Philanthropy. 

The Chronicle’s annual ranking of the top 50 donors to charitable causes showed that they contributed $7.7 billion in 2013, 4% more than in the previous year. 

The stock market surge drove giving, The Chronicle said, but, Claire Costello, a philanthropic executive at U.S. Trust, suspects that the intergenerational transfer of wealth was moving into high gear.  Costello suggested that charities could look forward to receiving many big gifts in 2014 and beyond. 

Despite the appearance of some young faces on the list, the median age of last year’s donors was 72.5.  Most were men.  Twenty-three earned their wealth in either investments or finance, 12 in real estate, six in technology and the rest from a mix of other pursuits or inheritances. 

Colleges, foundations and hospitals received the most gifts worth $1 million or more in 2013, The Chronicle reported.  The biggest donors made the fewest gifts and contributed the least money to causes for children and youths, the environment, religion and public broadcasting. 

Several of the best-known names in American philanthropy do not appear on the new list.  That’s because The Chronicle’s rankings are based on new commitments donors made to their foundations and other nonprofits in 2013.  The rankings do not count payments on past pledges of foundation grants. 

Last year, Bill and Melinda Gates gave their foundation some $181 million, which went to pay off a $3.3 billion pledge they had made in 2004, The Chronicle said. 

Ted Turner paid $50 million in 2013 to the United Nations Foundation and the Better World Fund.  This was the second-to-last payment toward a $1 billion pledge he had made in 1997 to establish the charities. 

Warren Buffett is still paying off a previous multibillion-dollar pledge. 

Following are the 15 most generous donors on The Chronicle’s Philanthropy 50 list. 

15.  Eli and Edythe BroadEli is founding chairman of KB Home and of SunAmerica

Amount donated in 2013: $157 million

Beneficiary: Broad Foundations

14.  Muriel Block with her late husband, Harold BlockThey owned commercial real estate in New York

Amount donated in 2013: Approximately $160 million

Beneficiary: Albert Einstein College of Medicine at Yeshiva University