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Luxury Institute Nonprofit Study
In February 2006, The Luxury Institute released its first study of the reputations of leading nonprofit organizations among wealthy consumers.
The Salvation Army, United Way and the American Red Cross are the best known charities among the wealthy, but wealthy consumers who were aware of the brands rated Habitat for Humanity the top institution in terms of overall reputation (score, 70), followed closely by America's Second Harvest and St. Jude Children's Hospital.
"America's Second Harvest was rated highest as the nonprofit that delivers consistently superior quality in its stated mission, while Habitat for Humanity was rated highest as truly unique," said Milton Pedraza, CEO of the Luxury Institute. "St. Jude's was rated as the organization to which people who are admired and respected donate most. America's Second Harvest was deemed the nonprofit that makes donors feel like they are donating to a great cause, as well as the nonprofit most worthy of a significant donation."
Thirty-four Non-Profits were rated, including (alphabetically): American Cancer Society, American Heart Association, American National Red Cross, America's Second Harvest, Boy Scouts of America National Council, Boys & Girls Clubs of America, CARE USA, Catholic Charities USA, Catholic Relief Services, Cedars-Sinai Medical Center, Children's Hospital, Cleveland Clinic Foundation, Dana Farber Cancer Institute, Easter Seals, Feed the Children, Girl Scouts of the USA, Goodwill Industries International, Habitat for Humanity International, Mayo Foundation, Memorial Sloan-Kettering Cancer Center, Mount Sinai, Nature Conservancy, New York-Presbyterian Hospital, Planned Parenthood Federation, Public Broadcasting Service, Salvation Army, Shriner's Hospitals for Children, St. Jude Children's Hospital, United Cerebral Palsy Association, United Way, Volunteers of America, World Vision, YMCA in the United States, and YWCA of the USA.
The proprietary Luxury Brand Status Index (LBSI) is the only measure of the value and equity of leading luxury brands to wealthy Americans, based on statistically meaningful independent data collected directly from wealthy consumers. In this survey, the questions were adapted to suit the Non-Profit/Donor-driven nature of the category.
The LBSI incorporates four main "pillars" of value: consistently superior quality, uniqueness, a measure of enhanced social status (people who are admired and respected donate to this Non-Profit), and a measure of the ability of a brand to make a customer "feel special" (donating to this non-profit contributes to a great cause). The survey also measures a Non-Profit's worthiness of a significant donation. Seven point scale ratings are converted to a 0-100 scale.
Using LBSI, the Luxury Institute surveyed a nationally representative, statistical sample of more than 400 households with a minimum of $200,000 in gross annual household income and minimum household net worth of $5 million (including home equity).
The Luxury Institute focuses solely on the top 10 percent of America's wealthy. The Institute serves as the objective and independent voice of the wealthy consumer by providing a portfolio of proprietary publications and research that guide and educate high net-worth individuals and the companies that cater to them on leading edge trends, wealthy consumer rankings and ratings of luxury brands, and best practices. Publications include the monthly Wealth Report, the Luxury Brand Status Index surveys, the Luxury Best Practices surveys and the Luxury Customer Experience Index surveys. Further information is available at www.luxuryinstitute.com
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