Wednesday, June 10, 2009

Charitable Donations Fell in 2008, Report Finds

According to a recent Washington Post article:

Charitable giving in the United States fell by 2 percent last year, the largest year-over-year drop and only the second decline since the Giving USA Foundation began tracking American philanthropy 53 years ago, according to a report being released today. Individual donations dropped by about 2.7 percent from 2007 to last year, corporate giving fell by about 4.5 percent and foundation contributions grew by about 3 percent, according to the report. Nationwide, recipients collected about $307.7 billion last year, down from the record of about $314.1 billion in 2007, according to the report, which was done for the foundation by the Center on Philanthropy at Indiana University. The only other annual decrease since the report was first published in 1956 occurred during the 1987 recession, when giving declined by 1.3 percent.

Many families are feeling the financial pinch of the economy and may not have as much disposable income to donate to charitable causes, but don't forget that every little helps organizations, especially smaller, grassroots community organizations. If you don't have money to give, donate your time/skills. There is always someone out there that is less fortunate than you out there, so don't forget to give what you can.