Monday, 7th July 2003 at 1:07 pm
The Annual US Report on Philanthropy for 2002 entitled Give USA finds charity holds its own in tough times but for Australia these figures are almost too big to contemplate….read on anyway!
The report says Giving in 2002 reached $241 billion, (and that’s US dollars) -1 percent above 2001.
The total charitable giving reached an estimated $240.92 billion for 2002, an historic level, lifted by growth in giving from corporations and estates, in the report released by the AAFRC Trust for Philanthropy.
The study, which is researched and written at the Centre on Philanthropy at Indiana University, found growth of 1 percent in giving in current dollars over a revised estimate of $US238.46 billion for 2001.
Leo Arnoult, the chair of the AAFRC Trust says donors have strong commitments to charity with giving buoyed in part by gifts of cash, real estate, and tangible property other than corporate securities.
Arnoult says given the economic difficulties and other uncertainties of 2002, growth in giving is proof of our nation’s philanthropic resilience.
The estimated growth of 1 percent in giving is mirrored by reported charitable revenue at Not for Profit organisations in 2002. A Giving USA survey of Not for Profits about charitable revenue in 2002 compared to 2001 found that 49 percent of organisations reported an increase, 46 percent reported a decrease, and 5 percent reported no change.
Based on survey results charitable revenue grew 0.4 percent (-1.1 percent adjusted for inflation), before contributions for September 11 relief and before gifts to churches, which are not surveyed, are included.
The report says giving by individuals in 2002 is estimated to have increased 0.7 percent, to $US183.73 billion from a revised estimate for 2001 of $US182.47 billion.
It says giving through bequests in 2002 is estimated to have increased 2 percent to $US18.1 billion from a revised estimate of $US17.74 billion.
Giving by foundations in 2002 is reported by the Foundation Centre to show an estimated decrease of 1.2 percent, at $US26.9 billion for grantmaking by independent, community, and operating foundations.
Giving by corporations in 2002 is estimated to have grown by 10.5 percent to $US12.19 billion, from a revised estimate of $US11.03 billion for 2001.
The high rate of growth in corporate giving is attributed to continued fulfilment of pledges made in 2001; growth of in-kind giving by corporations; the Foundation Centre’s finding of an increase in corporate foundation grantmaking; and perhaps better reporting from corporations of deductible contributions in recent years. Giving by corporations is 5.1 percent of all estimated giving in 2002.
Giving USA’s annual estimates are based on original surveys of organisations and econometric studies using tax data, government estimates for economic indicators, and information from other research institutions.