Giving USA 2008, a report on both individual and institutional philanthropic trends in 2007, was recently released. This data-rich resource estimates giving from various sources as well as where the dollars go (education, arts, religion, etc.). The report shows that overall giving rose to a new high, over $300 billion, increasing a modest 1% over 2006 giving (inflation-adjusted dollars). These results complement those of the Foundation Center’s Foundation Growth and Giving Estimates, which reported an estimated 10% increase in foundation giving in 2007.
The majority of the giving reported on in Giving USA 2008 is from individuals, which explains the difference in the increase in giving between the two reports. Individual giving tends to reflect changes in the economy faster than foundation giving since foundation giving is usually calculated based on a rolling average of their assets, as mentioned in my previous post about the Foundation Center’s report. All the same, it is heartening that there was an increase in 2007 rather than a decline.
Check out these articles for additional coverage of Giving USA 2008:
- Despite Economic Dip, Giving Rose in 2007
Washington Post - Increase in Charitable Giving Dampened by Signs of Belt-Tightening
New York Times
Join the discussion: Does the rate of individual giving affect your grantmaking and in what way? What kinds of resources do you need to continue to serve your grantees in this economic climate?
- Anne Graham, MCF’s information services and database assistant
September 25, 2008 at 3:13 pm
Of the $306.69 billion given in 2007, can you tell me how much was given by the following groups: individuals, corporations, foundations, and bequests?
Thank you for your help.
September 26, 2008 at 1:30 pm
Nearly 75% of the total, $229 billion, was given by individuals. Corporations accounted for $15.7 billion or 5.1%. Foundations gave $38.5 billion or 12.6%, and bequests were $23.2 billion or 7.6%. Thanks for the good question!
October 12, 2008 at 12:44 pm
Are there any statistics available regarding corporate giving as a percentage of pre-tax profits?
October 21, 2008 at 1:16 pm
National sources (Philanthropy Journal and Association of Fundraising Professionals) report that average corporate giving is around 1% of pre-tax profit.
In Minnesota, the Minnesota Keystone Program encourages corporate giving of 2 to 5 percent or more of pre-tax earnings.