BMO Harris Private Banking released the results of a survey today examining the charitable giving habits of high-net-worth Canadians which finds that the majority (76 per cent) believe it is important to personally give back to their community.

Around two-thirds of wealthy Canadians polled by BMO Harris Private Banking say they plan to give between 1.0 per cent and 3.0 per cent of their wealth this year while a clear majority (59 per cent) say economic woes have not reduced their donations.

The survey, Harris/Decima, found that 76 per cent of respondents to its survey said it is important to personally give something to their communities. The was completed between 2 and 8 September. A total of 459 Canadian adults who have C$1 million in total investable assets and at least share in the financial decision-making process of their household were surveyed.

The results chime with other recent surveys showing that the urge to engage in philanthropic activity has not been seriously reduced by the recent financial turmoil; arguably, the financial crisis may have even encouraged some wealthy people to increase or at least sustain their donations.

"It is encouraging to see that the majority of high-net-worth Canadians continue to consider philanthropic initiatives to be an important part of their lifestyle despite the recent economic downturn," said Marvi Ricker, Vice President & Managing Director, BMO Harris Private Banking.

Among other findings, some 89 per cent of those who hold a business as an investment vehicle say that personally giving back to the community is important them; women (91 per cent) are more likely than men (72 per cent) to say it is important to personally give back to their community; increasing media and public attention on environmental issues has not affected giving patterns - 81 per cent of respondents indicate that they are not swayed by environmental causes-of-the-day when giving.

“One of the points that really stood out is the growing number of self-made professionals and business owners who are feeling a strong sense of gratitude regarding their achievements and want to share that success by donating a portion of their financial wealth to the benefit of their communities,” Ricker added.