The total value and the number of $1 million-plus gifts by wealthy donors across the globe both increased in 2013, according to the second international Million Dollar Donors Report released this month by Coutts in association with the Indiana University Lilly Family School of Philanthropy.
Philanthropic individuals and organizations in seven regions around the world gave 1,995 gifts totaling $26.3 billion last year, up from $19 billion in 2012.
The value of gifts of $1 million or more rose in each region studied.
The report analyzed the number, size and recipients of $1 million-plus gifts given in 2013 by individuals, foundations and corporations in the U.S., the U.K., Russia, the Middle East (Gulf Cooperation Council), China, Hong Kong and, for the first time, Singapore.
The report uncovered several global giving trends.
Education got the most gifts from million-dollar donors last year, $9.1 billion, or 34% of the total value.
Foundations were the second most popular destination for million-dollar donations, receiving $4.8 billion in 2013, up from $2.9 billion the year before.
Individuals gave more money in total than foundations and corporations, 45% of the $26.3 billion donated across all regions.
A majority of million-dollar donations was directed within the regions where they originated. Yet overseas giving increased significantly in 2013, rising to the third most popular destination in terms of dollars given.
This growth was influenced by several huge donations to overseas causes, the report said.