Charitable Giving In The US Tops $400 billion For The First Time

Submitted by: trimble 4 months ago in News & Politics

Fueled by a surging stock market and huge gifts from billionaires.

An excerpt from the Associated Press: Fueled by a surging stock market and huge gifts from billionaires, charitable giving in the United States in 2017 topped the $400 billion mark for the first time, according to the latest comprehensive report on Americans’ giving patterns.

The Giving USA report, released Tuesday, said giving from individuals, estates, foundations and corporations reached an estimated $410 billion in 2017 — more than the gross domestic product of countries such as Israel and Ireland. The total was up 5.2 percent in current dollars (3 percent adjusted for inflation) from the estimate of $389.64 billion for 2016.

“Americans’ record-breaking charitable giving in 2017 demonstrates that even in divisive times our commitment to philanthropy is solid,” said Aggie Sweeney, chair of Giving USA Foundation, which publishes the annual report. It is researched and written by the Indiana University Lilly Family School of Philanthropy.

Giving increased to eight of the nine charitable sectors identified by Giving USA. The only decline was for areas related to international affairs.

The biggest increase was in giving to foundations — up 15.5 percent. That surge was driven by large gifts from major philanthropists to their own foundations — including $1 billion from Dell Technologies CEO Michael Dell and his wife, Susan, and $2 billion from Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan.

Other sectors with increases of more than 6 percent included education, health, arts and culture, environment and animal welfare, and public-society benefit organizations — groups which work on such issues as voter education, civil rights, civil liberties and consumer rights.

Despite the record-setting total, Americans’ level of generosity is no higher than it was decades ago. For 2017, giving by individuals represented 2 percent of total disposable income — down from 2.4 percent in 2000 and the same as the rate in 1978. Similarly, total charitable donations have hovered around 2 percent of the gross domestic product for many years; for 2017, that figure was 2.1 percent.
There are 7 comments:
Male 777
These charitable giving studies never take into account the billions of dollars in goods donated and shipped to foreign countries from the US.
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Male 12
A billion from ZUCK
isn't worth a F***.
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Male 44,956
Bill Gates and Mark Zuckerburg kind of ruin the curve.
I don't think most rich people give a shit, let alone give dollars.
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Male 5,192
Gerry1of1 1 or 2 billion ain't 400 billion.
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Male 9,475
trimble Despite the record-setting total, Americans’ level of generosity is no higher than it was decades ago. For 2017, giving by individuals represented 2 percent of total disposable income — down from 2.4 percent in 2000 and the same as the rate in 1978. Similarly, total charitable donations have hovered around 2 percent of the gross domestic product for many years; for 2017, that figure was 2.1 percent.

So the rate hasn't changed and a lot of the money goes to "charities" that are oddly enough related to the people that own the company, sounds more like subverting the tax laws by moving money around.  
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Male 44,956
trimble   They must be giving it to Africa 'cause I don't see USA improving any
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1,063
Does this include the dumbass's that give "charitable donations" to preachers? 
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