Jun 19, 2012
Giving USA 2012 Report Demonstrates Importance of Incentives to Give
Report shows giving nearly level with 2010
Giving USA 2012, released today, a report that charitable giving in 2011 rose by 4% (.9% when adjusted for inflation). Given the current economic climate, these findings were expected.
Another expected finding was that the vast majority of giving continues to come from individuals, making up 73% of all giving. But as America emerges from recession, the year-over-year increase in charitable giving has been lower than in pre-recession years. This underscores our efforts to preserve the charitable giving incentives currently included in the tax code, and discourage changes that could, even unintentionally, chill charitable giving. With upcoming discussions on our nation’s budget and tax reform, it is important that the current incentives to give remain, particularly for individuals who constitute the majority of giving, to ensure support for America’s charitable organizations.
Some key findings include (not adjusted for inflation):
—Giving by foundations increased by 1.8%, $41.6 billion
—Individual giving rose by 3.98%, $217 billion
—Giving by bequest increased 12.2%, $24.41 billion
—Giving by corporations held steady, $14.55 billion
For an executive summary and full copy of the report, click here.
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