Saturday, June 28, 2003
Americans giving despite hard times
Even in hard times, when unemployment is up, the stock market is down and general anxiety is stirred by terrorism and war, Americans continue to donate their hard-earned money to their favorite causes.
Charitable giving held steady last year, according to a recent national study by an arm of the American Association of Fundraising Counsel.
In its annual Giving USA report, the AAFRC Trust for Philanthropy found that Americans gave about $241 billion to charities in 2002, compared with $238 billion in 2001. Adjusted for inflation, charitable contributions last year declined by about half a percent, according to the report.
The Giving USA report, first published in 1955, also found that charitable contributions by corporations increased in 2002 by 8.8 percent when adjusted for inflation. About 70 percent of American households contribute to 1.4 million charities, including religious congregations, in any given year, the report says.
The report, however, does not tell the whole story. Some charities are having to replace funding from governmental sources as federal, state and local grant programs fall victim to austerity measures. And despite overall giving totals, many charitable organizations have suffered from significant declines in donor contributions.
The struggle of some charities while overall contributions held steady suggests that donors may have altered their giving habits. Instead of spreading donations among several organizations, for instance, many contributors may have given to only two or three.
The bottom line: Charities struggling because of the weak economy might have to consolidate or piggyback to make sure clients get served.
Permalink
