Wealthy Americans left $10.1 billion to charity in 1995, up from nearly $8.5 million three years earlier, the Internal Revenue Service says in a new study.
Bequests by Americans who died in 1995 and left estates with at least $600,000 in gross assets represented 7 percent of the $143.9 billion in total charitable giving that year reported by the AAFRC Trust for Philanthropy.
Those bequests by 14,283 Americans who died in 1995 reduced their combined taxable estates by more than $9.7 billion and represented 16.2 percent of total allowable deductions by Americans who died that year, the IRS says.
Those who used the charitable deduction in 1995 represented 18.3 percent of all those subject to the estate tax.
That larger group grew 29.9 percent between 1992 and 1995, but still represented less than 1 percent of the U.S. population in 1995, the IRS says.
The deaths of all those subject to the estate tax represented only 3.4 percent of all deaths among Americans in 1995.
Males represent 50.7 percent of Americans who died in 1995, and 54.9 percent of those subject to the estate tax, but only 40 percent of donors who gave to charity through their estates.