Charitable Pursuits

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Entrepreneurs give more of their time and wallets to charity than others, according to a survey by the National Foundation for Women Business Owners. Nine out of 10 business owners contribute money to charities, compared with 70 percent of all U.S. households, says the NFWBO. Nearly 33 percent of business owners personally contribute $5,000 or more per year, and 70 percent volunteer for a favorite charity each month. A big tax write-off isn't their primary motivation: Just over half of business owners say their philanthropy is mostly related to being socially responsible; only 8 percent of women and 12 percent of men say it's done primarily for financial gain. Some 75 percent of entrepreneurs contribute through their businesses and 39 percent of those with employees have company policies to encourage volunteerism as well. Women take the lead in volunteer time: 46 percent of female entrepreneurs frequently serve on a charitable board or advisory group compared with 29 percent of men, and 34 percent have helped plan an event or fund-raiser compared with 25 percent of male business owners.

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