High-net-worth business owners in the US are motivated by contributing to positive change when they make philanthropic decisions, a recent survey shows.

A SunTrust Private Wealth Management survey reveals that high-net-worth business owners are attracted to philanthropies that ignite their passion, demonstrate good management and “help make a positive change" as the top reason for charitable giving.

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

In addition to positive change three-quarters of respondents said satisfying their personal moral beliefs drives their philanthropic impulses, while fewer than half said they give to receive tax credits; to bring positive attention to their business; to network; to establish a legacy; or to gain recognition.

Nearly half (48%) of respondents said that they "have regretted making nonprofit or charitable contributions to certain organisations that did not spend my money wisely." An equal number of business owners said they have withheld money from an organisation because of concern "the funds would not have been used wisely".

The survey also revealed how generous these business-owners are, with virtually all having made a charitable donation personally (96%) and through their business (79%). On average, in 2007 they report having donated over $250,000 to charitable causes through their businesses and $78,000 personally or as families.

More than one-third (36%) have incorporated philanthropic giving into their financial plan, and a number have written non-profit organisations into their will (53%), set up planned giving (45%), or established a private or family foundation (44%).

"The survey shows that when it comes to philanthropy, business owners are genuinely concerned about affecting change," said Dave Johnston, Senior Vice President, SunTrust Private Wealth Management.

"[They] approach philanthropic opportunities in much the same way they approach business opportunities. For them, it is important that the philanthropies they support are fiscally sound, so they can trust their contributions make a positive change."