'Giving USA' Estimates Total Giving at $212 Billion in 2001
PND - "Giving USA" Estimates Charitable Giving at $212 Billion for 2001
According to the 2002 edition of Giving USA, an annual research publication of the AAFRC Trust for Philanthropy, Americans gave an estimated $212 billion to charity in 2001, an increase in current dollars of 0.5 percent over the previous year. When adjusted for inflation, however, charitable giving in 2001 declined by some 2.3 percent over 2000.
According to the report, which was researched and written by the Center on Philanthropy at Indiana University and is based on original surveys, government estimates, and information from other research organizations, including the IRS, the U.S. Department of the Trasury, the Foundation Center, Independent Sector, the Council for Aid to Education, and the National Center for Charitable Statistics at the Urban Institute, the volatility of the capital markets, a sharp drop in corporate profits, and slower growth of personal income all influenced giving in 2001. The 0.5 percent increase in charitable giving was lower than the 6 percent increase recorded in 2000.
"Research shows that giving is closely tied to the economy," said AAFRC Trust chair Leo P. Arnoult, CFRE. "Not surprisingly, giving in 2001 fits the pattern we have seen during the previous recessions. In six of the eight recessions years since 1971, giving dropped by one to five percent when adjusted for inflation. Despite fears last fall that giving might decline precipitously, in fact, the change in giving in 2001 falls within the normal range for a recession year."
For the year, giving by individuals increased by roughly 1.1 percent (a decrease of 1.7 percent when adjusted for inflation), corporate giving fell by 12.1 percent (a decrease of 14.5 percent when adjusted for inflation), and bequests were lower by 4.1 percent (a decrease of 7.1 percent when adjusted for inflation), while foundation grants (excluding corporate foundations) rose by 5.4 percent (an increase of 2.5 percent when adjusted for inflation). Foundation giving represented 12.2 percent of total charitable giving in 2001.
Gifts made to relief and recovery efforts in the aftermath of the September 11 terrorist attacks came to slightly less than 1 percent (0.9) of the total. As of the end of the year, Giving USA estimates that a total of $1.88 billion was received by the major 9/11 relief funds.
“Charitable Giving Reaches $212 Billion.”
AAFRC Trust for Philanthropy Press Release
6/20/02.
Primary Subject: Philanthropy and Voluntarism
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