Giving in US rises by 3.5%

Giving in US rises by 3.5%

News (International)

Total charitable giving in the US rose for the third consecutive year, according to Giving USA’s latest annual report. The amount given by individuals, foundations, estates and corporations in 2012 equalled $316.23bn (£208.05bn).

The single largest influence on this increase was the additional $8.67bn (£570.39bn) given by individuals, compared with 2011 – an increase of 3.9%. Individuals gave 72% of donations, followed by foundations, which gave 15%, bequests 7% and corporations 6%.

The biggest recipients of donations were religious organisations, which received 32% of the income, although this dropped compared with 2011. Gifts to foundations also fell by 4.6% to 10%. Education establishments were given 13% of the money and health organisations received 9%. Donations to the arts, culture and humanities increased by 7.8% but they still only received 5% of the total income. Equally donations to environment and animals increased but only to 3%.

While total charitable giving is growing in the US, if it continues to grow at the current rate, adjusting for inflation, the total will not reach the high of $344.48, reached in 2007 before the global financial crisis.

Giving by corporations rose by 12.2% which could be explained by a 16.6% gain in corporate pre-tax profits and a 4% growth in GDP.

The report is based on research by the Lilly Family School of Philanthropy, based at Indiana University.

The full report can be downloaded for $89.95 (£58.55)

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