11 Feb Giving On the Rise
Giving is on the rise throughout the United States, according to Charity Navigator. As of last year, charitable organizations received $358.38 billion—that’s roughly comparable to 2 percent of the nation’s GDP. In comparison, charitable donations have, in total, climbed 7.1 percent in current U.S. dollars (or 5.4 percent when adjusted for inflation dollars) from 2013. As noted by Charity Navigator, this year marks the fifth year in a row that charitable giving has increased. This year also marks the first time since the 2008 recession that charitable giving has surpassed the all-time high of 2007, which came in at $355.17 billion dollars.
This year’s donations came from a variety of different sources, as charitable giving was up for all the donor categories, including foundation, bequest, corporation and individuals. However, the vast majority of the donations—72 percent or $258.5 billion—came from individuals, and individual donations climbed by 5.7 percent since 2013. Interestingly, foundations donated $54 billion (increase of 8.2 percent from 2013).
Corporations donated $17.8 billion, as well, which was an increase from 2013 of 13.7 percent—this highlights that the current trend of corporate social responsibility might be having an impact on overall corporate donations. Regarding the charities or nonprofits that received these donations, religious organizations received the most at 32 percent. Education received 15 percent, followed closely by other sectors such as the arts, education, human services and environment/animal.
In short, giving is on the rise, especially amongst corporations.
If you work with a company that’s considering delving into corporate giving, considering contacting Good360. For well over 30 years, Good360 has worked with companies like 3M, The Home Depot, Walmart, and many, many others to design specialized product-giving programs. Together with a particular firm, we design a giving program that matches up ideally with the company’s main focus and goals and also with charitable giving.
Additionally, we also specialize in partnering companies with excess products or returns with nonprofits in need of those items—by setting up these partnerships, companies can cut down on needless waste while also removing excess stock, and notable nonprofits can receive the items they require in order to help those in need. If you’re interested in learning more, click here.