The NonProfit Times - July 1, 2008 - (Page 17)

Giving USA Shows Bequests, Foundations Boosted Otherwise Flat Giving To $306 Billion BY MARK HRYWNA 2007 Contributions: $306.39 Billion By Source Of Contributions All figures are rounded. Total may not be 100% Corporations $15.69 B 5.1% I Foundations $38.52 B 12.6% f not for bequests and foundation grantmaking, charitable giving last year would not have increased at all when adjusted for inflation, despite exceeding $300 billion for the first time. Giving estimates indicated an increase of almost 4 percent from 2006 to 2007, but only 1 percent when adjusted for inflation, according to Giving USA 2008. Donors gave $306.39 billion to charities in the United States during 2007, the first year since 2001 that virtually Bequests every category of public charity receiving donations expe$23.15 B rienced gains. Giving is estimated to have increased last 7.6% year by 3.9 percent according to the yearbook on philanthropy, released today by Giving USA FoundationTM. “Giving USA 2008 shows that a strong start to the economy in 2007 helped lift giving despite worries at year’s end from gasoline prices or the housing and mortgage crises,” said George C. Ruotolo Jr., chair of Giving InstiIndividuals tute: Leading Consultants to Non-Profits, which founded $229.03 B Giving USA Foundation in 1985. 74.8% The increase in 2007 is attributable largely to stock market performance during the first half of the year, overall growth in the economy measured by Gross Domestic Product (GDP), and increases in corporate and personal income as reported at the end of the year. Charitable giving as a percentage of GDP remained 2.2 percent. “While there is much talk and speculation about a recession, our studies show that even when there is a recession, giving does decrease, but not by much,” Ruotolo said. During the five recessions since the one between 1973-1975, giving fell an average of 1.3 percent adjusted for inflation, he said, while in non-recession years from 1966 through 2006, giving has increased an inflation-adjusted average of 4.3 percent. While the economy was not in a technical recession during 2007, where real growth is negative for two or Special Report, page 18 JULY 1, 2008 THE NONPROFIT TIMES www.nptimes.com 17 http://www.wealthengine.com http://www.wealthengine.com http://www.nptimes.com

Table of Contents Feed for the Digital Edition of The NonProfit Times - July 1, 2008

The NonProfit Times - July 1, 2008 Time to Let GO Sparks Flying From Blackbaud's Bid For Kintera Holiday Jeer Contents Who...When...Where...How...What? The Wrong Arguments Calendar Measure the Unmeasureable Getting Good Advice We Barely Got to Know You Special Report: Giving USA Shows Bequests, Foundations Boosted Otherwise Flat Giving to 306 Billion Dollars National Benchmarking Nothing Is Forever Diversified Planet Business Briefs NPT Jobs Resource Directory Bridge Map Insert

The NonProfit Times - July 1, 2008

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