Rise in Giving Signals Economic Rebound
By JBrown@charities.org on June 20, 2011
By Annie Gowen, Monday, June 20, 12:11 AM
An annual report released Monday shows that charitable giving in the United States grew nearly 4 percent last year after two years of steep declines, which some experts say is a sign the economy is slowly rebounding.
Individuals and corporations donated an estimated $290 billion last year, an increase of $10 billion from the previous year, according to the Giving USA Foundation, which has tracked charitable giving in the country since 1956.
Donations to education, health institutions, and arts and humanities organizations were up, while overall corporate donations rose nearly 11 percent, the study found. Amid other more glum economic news in recent days, such as slowing job growth, many found the upward trend encouraging.
“Giving’s back,” said Eric Kessler, managing director of Arabella Philanthropic Investment Advisors, which oversees about half a billion dollars in charitable giving. “Philanthropists are feeling more comfortable with the economy.”
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