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http://www.omniture.com --> Sections Home Page Local News AP News AP Entertainment Archives Business Classifieds Event Calendar Forums Life Opinion Obituaries Photo Gallery Readers Photo Gallery Sports Tempo Weather Special Coverage 2006 Britt Festivals --> Shop Our Valley AutoFinder HomeFinder JobFinder Search Our Valley Special Sections Distinctly Northwest Readers' Choice Homelife Magazine Joy Magazine Holiday Guide Oregon Golf Info Oregon Wine Info Other Publications Local Links Ashland News eSouthernOregon Newspapers In Education Personals Moving Here Movie Listings TV Listings Volunteer Customer Service Advertise With Us Media Kit Place Classified Ad Contact Us FAQ's Home Delivery Site Map --> Email Story to a Friend December 26, 2006 Los Angeles' wealthy more generous than others in California By Molly Selvin Los Angeles Times When it comes to charity, wealthy people in the Los Angeles area are more generous than their counterparts in Silicon Valley and other parts of California, according to a survey to be released Tuesday. Southland high-income residents give away twice as much of their wealth as those in the rest of the state, according to a study that analyzed the charitable patterns of Californians who earned more than $200,000. The average size of gifts from Silicon Valley residents are the highest in the state measured as a percent of their total assets, said Tim Stone, director of NewTithing Group, which produced the study, which he said is the first of its kind. But Stone said a few super-large donations skew the average. By contrast, Los Angeles residents donated the highest median share of their liquid asset wealth, nearly 1 percent, according to the San Francisco nonprofit, whose mission is to encourage people to consciously budget each year for charitable giving. That means half of Los Angeles-area residents gave more than 1 percent of their investment asset wealth and half less. Using that measure, Silicon Valley donors gave away only 0.5 percent of their wealth. Included in the study's wealth measure are stocks, fixed-income securities and private partnerships. The researchers excluded the value of investment real estate, retirement pensions and personal homes. Neither Stone nor several philanthropic leaders can definitively explain the munificence of Southland residents, but they suggest some theories. Advertisement People think more about philanthropy as they age and begin to take stock of their life, Stone said. While the San Francisco Bay Area and Silicon Valley have a disproportionate number of wealthy young people, many of whom are engaged in start-up and venture capital enterprises, Stone thinks there might be a higher proportion of older affluent people in the Los Angeles area who have become active donors in recent years. Peter Dunn tends to agree. The senior vice president for the Los Angeles-based California Community Foundation has seen "a notable increase" in the number of older residents who are selling their businesses and giving a portion to charity. The foundation manages more than $1 billion in assets, much of it through donor-advised funds. "There has been a significant appreciation of wealth here," he said, much of it concentrated in business and real estate. In addition, Dunn said, there has been an uptick in contributions from entertainment-industry writers, directors and producers — the result of residuals they've earned in the past five years. Zuzka and Phil Polishook are a good example of Southland residents who give. The couple started their careers at a Fortune 500 company, then worked for an Internet-based firm and now operate a small office furniture manufacturing company in Los Angeles. Seven years ago, they became active donors through the California Community Foundation, focusing much of their giving on the St. Joseph Center, which serves low-income families and the homeless in Los Angeles' Venice area. The couple participate in center events as well as donate funds. "It makes us feel pretty good to know that we can impact an organization," Zuzka said. "We sometimes feel we're getting more out of it than we're putting in." The NewTithing study relied on state Franchise Tax Board data on California tax filers earning $200,000 or more in adjusted gross income during 2004, the latest year available. Virtually everyone in that tax bracket itemizes charitable contributions, Stone said, unlike those earning less. As a result, he and his colleagues could link data on the income of higher earners with their investment assets and charitable contributions. To preserve confidentiality, the agency consolidated the data into six geographic regions. 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