For business owners, personal passion rather than tax breaks or other personal gains is what drives charitable involvement, according to a survey by US-based SunTrust Bank Private Wealth Management.

The US national study surveyed over 200 high net worth business owners, whose companies have at least $10 million in annual revenue, about their philanthropic involvement and motivation.

Business owners cite "helps make a positive change" as the top reason for charitable giving. Nearly three-quarters of respondents say satisfying their personal moral beliefs drives their philanthropic impulses. Fewer than half say they give to receive tax credits; to bring positive attention to their business; to network, to establish a legacy or to gain recognition.

"The survey shows that when it comes to philanthropy, business owners are genuinely concerned about affecting change," says Dave Johnston, senior vice president, SunTrust Private Wealth Management. Almost all the business owners surveyed have made a charitable donation personally (96 per cent) and through their business (79 per cent).

On average, in 2007, they report having donated over a quarter of a million dollars to charitable causes through their businesses and $78,000 personally or as families. Seven in 10 respondents said they agreed that "even if there is an economic downturn that moderately affects my business, I plan to keep my current level of  nonprofit or charitable giving in the coming year". Business owners are extending their generosity beyond donations and board or event involvement, according to Mr Johnston.

"Many recognise the importance of planning for the future by incorporating philanthropy into their financial plans with the inclusion of nonprofits in their wills, engaging in planned giving and establishing family foundations."

More than one-third (36 per cent) of respondents to the survey  have incorporated philanthropic giving into their financial plan.