Giving USA Numbers Just Released
On June 17, Giving USA published their 2014 Report and folks around the country gathered to review the data and talk about the implications. I was invited to be a part of the Cincinnati group by Jim Yunker, President & CEO of Smith Beers Yunker & Company, Inc., and after the presentation, I served on a panel with Jim Schwab from Interact for Health and Sr. Sally Duffy from Sisters of Charity. We talked about how the data impact the work we do and the trends we see ahead.
So let’s look at the data first:
From the Giving USA 2014 Report, we learn that charitable giving in the United States rose 4.4 percent to $335.17 billion last year; if the trends continue, pre-recession giving levels could be seen as early as 2015. The “Giving Pie” – the pie chart we all use to show categories of givers – is growing.
But as the data were broken down, it was clear who was responsible for last year’s increase in giving: the single largest contributors are still individuals. Charitable giving in this large section of the “Giving Pie” is an estimated $240.6 billion, and it rose 4.2 percent in 2013, an increase of $9.69 billion from 2012.
In addition to individuals, the parts of the “Giving Pie” also increased for bequests and foundations. Only giving by corporations declined slightly in 2013, the result of the slow rate of growth in pre-tax corporate profits in 2013, at 3.4 percent.
Taking a deeper look at the individual gifts, several very large gifts made by individuals, couples and estates in 2013 helped make this slice of “Pie” a bit larger. Large donations – gifts of $80 million or more – represented 1.3 percent of total giving. Interestingly, the majority of these large gifts were made from living Americans ($3 billion) and $1.3 billion came from bequests.
One of the fastest-growing beneficiaries of individual gifts was donor-advised funds. The Giving USA 2014 Report categorizes these types of funds as part of the public-society benefit classification, and as a category, it grew by 7 percent. This classification also includes advocacy groups, Jewish federations and United Ways.
However, individual gifts to private foundations dropped by 16.7 percent. This decline can be explained in a couple of ways: one way is that this does not connote a lack of interest, but that there is an inherent volatility in how affluent people form and fund their own foundations.
If you want a complete view of the Giving USA numbers, we’ll be posting to our website or you can purchase the full report by going to Giving USA’s website.
In our next blog, we’ll talk about how this data impacts you!
Suzanne T. Allen, Ph.D.
Entry filed under: Funding Areas, Resource Development, Uncategorized. Tags: charitable, donating, donation, foundations, giving, giving pie, giving trends, Giving USA, individual gifts, Philanthropy, Philanthropy Ohio, trends.