JENKINTOWN, Pa.--(BUSINESS WIRE)--Subhead of release should read: Giving on Track to Surpass 2007 Record of $350 Billion by 2015 (instead of Giving on Track to Surpass 2007 Record of $350 Million by 2015).
The corrected release reads:
NATIONAL PHILANTHROPIC TRUST COMMENTS ON 2014 GIVING USA REPORT ON PHILANTHROPY
Giving on Track to Surpass 2007 Record of $350 Billion by 2015
National Philanthropic Trust (NPT), the nation’s top independent donor-advised fund administrator, has identified positive philanthropic trends in the just-released “Giving USA: Annual Report on Philanthropy.” The 59th annual report—considered the country’s most comprehensive report on giving—revealed Americans donated an estimated $335.17 billion to charitable causes in 2013, a 3 percent increase from 2012, and included researchers’ projection that giving is on track to surpass pre-recession levels as early as 2015, if not 2014.
“Historically, giving is a lagging indicator of the economy,” said Eileen Heisman, CEO of National Philanthropic Trust, a Giving USA partner. “The positive data in Giving USA’s report indicates, overall, Americans are feeling more confident about the domestic and global economy.”
The “Annual Report on Philanthropy,” released today, revealed giving by individuals rose an estimated 2.7 percent in 2013 to $240.60 billion in contributions; foundations increased 4.2 percent to $48.96 billion; corporations fell 3.2 percent to $17.88 billion and bequests increased 7.2 percent to $27.73 billion.
While donations to arts and culture saw the largest increase in last year’s report, this year’s report shows education with the largest increase in giving (7.4 percent). Donations to public- society benefit rose by 7.0 percent; arts and culture rose by 6.3 percent; animals and environment by 6.0 percent; health organizations 4.5 percent; and human services by 0.7 percent. Giving to religious and international affairs organizations dropped, by 1.6 percent and 8.0 percent, respectively.
“As the economy continues on a positive trajectory, Americans continue to make giving back a priority,” said Heisman. “More than ever, donors are giving with smarts as well as soul—supporting what is important to them but also doing the research on the charities they like in the US to be sure they can optimize their donations. The sectors in this report that have and have not shown growth mirror the evolving social trends and values of our nation.”
The report noted a 7 percent increase in the public-society benefit organization category, where donor-advised funds are counted. This mirrors NPT’s findings in its annual Donor-Advised Fund Report, which reviews and reports annually about the donor-advised fund marketplace.
“The word Philanthropy means ‘loving mankind.’ In the City of Brotherly Love, people supported what is important to them in 2013,” said Heisman. “From unprecedented megagifts--like $70 million worth of contemporary art promised to the Philadelphia Museum of Art and a $50 million gift to Villanova School of Business—to the success of crowd-funded initiatives—such as Temple’s OwlCrowd and the Greater Philadelphia Art Alliance’s STAMP pass—Philadelphians gave to the organizations and causes that resonate deeply to them. The success of local campaigns, like the Philadelphia Zoo’s KidZooU and the Children’s Hospital of Philadelphia’s new Buerger Center for Pediatric Medicine, is more evidence of our community’s enormous generosity. It’s exciting that there are so many ways to support Philadelphia and its citizens through nonprofits.”
About National Philanthropic Trust
Founded in 1996, NPT has raised $4 billion in charitable contributions and currently manages over $2.1 billion in charitable assets. It has made more than 90,000 grants totaling $2 billion to charities all over the world and ranks as the top independent DAF administrator. NPT annually publishes the Donor Advised Fund Report, the industry’s authority on the state of DAF giving. Visit http://www.nptrust.org/.