U.S. Charitable Giving for 2006

Discussion in 'Politics, Religion, Social Issues' started by xsedrinam, Sep 3, 2007.

  1. xsedrinam macrumors 601

    xsedrinam

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    Oct 21, 2004
    #1
    Gifts to charities rose in the U.S. to a record $295.02 Billion in 2006.

    "While headlines focus on 'mega-gifts,' they represented 1.3 percent of the total, "said George C. Ruotolo Jr., CFRE, chair of Giving Institute: Leading Consultants to Non-Profits, parent organization of the Foundation. "About 65 percent of households with incomes lower than $100,000 give to charity. That is higher than the percentage who vote or read a Sunday newspaper."

    "Giving by individuals is always the largest single source of donations, according to the report. It rose by 4.4 percent. (1.2 percent adjusted for inflation) to an estimated $222.89 billion and accounts for 75.6 percent of all estimated giving in 2006."

    I thought it was interesting that individuals, not corporations, constitute the largest source for donations at 75.6% of the total giving (which includes Warren Buffet's down payment pledge of $1.9 billion to be given over the next 20 years) , and that of those individuals, 65% of the households are middle class or under with regard to annual income.
     
  2. leekohler macrumors G5

    leekohler

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    Chicago, Illinois
    #2
    You don't get rich by giving money away. ;)
     
  3. xsedrinam thread starter macrumors 601

    xsedrinam

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    Oct 21, 2004
    #3
    Says who? :)
     
  4. leekohler macrumors G5

    leekohler

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    Chicago, Illinois
    #4
    I'm sure he'll come along any minute. :)
     
  5. SMM macrumors 65816

    SMM

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    Tiger Mountain - WA State
    #5
    When a person/family reaches an earning level they feel comfortable with, giving to charity/causes can be very fulfilling. Not raising children certainly makes it easier to do.

    My wife and I came up with a budgetary formula twenty-five years ago. We took one-third of our post-tax income (401K's and non-Roth IRA's are pretax) and allocated it fifty-fifty to investments and gifts. Our total gifts was split in thirds. One third goes to Children's Hospital, Greenpeace, Public television and Amnesty International. Each of us has one-third we can allocate at our own discretion. Mine goes to Southern Poverty Law Center, Veterans Outreach, ACLU, Second Harvest, and a few others.

    While this would not be suitable for everyone, it works well for us. We basically think it is good to give a little to many, and on a regular basis.
     
  6. solvs macrumors 603

    solvs

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    Location:
    LaLaLand, CA
    #6
    Some of that goes to churches or religious organizations, so that explains some of it. Lots of lower income Church goers who give. Some even when they can't really afford it.
     

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