JENKINTOWN, Pa.--(BUSINESS WIRE)--National Philanthropic Trust (NPT), the nation’s largest independent donor-advised fund administrator, has identified history-making philanthropic trends in the just-released “Giving USA 2015: Annual Report on Philanthropy for the Year 2014.” The 60th annual report—considered the country’s most comprehensive report on giving—revealed Americans donated an estimated $358.38 billion to charitable causes in 2014, surpassing the inflation-adjusted pre-recession peak in 2007 of $355.17 billion.
“After seven long years, the American spirit of giving has put the recession in philanthropy’s rear-view mirror and is poised like never before to further the missions of the 1.5 million U.S. charities,” said Eileen Heisman, CEO of National Philanthropic Trust. “2014 saw the emergence of Philanthropy 3.0 with the success of another #GivingTuesday and a record-breaking ALS Challenge. Social and viral fundraising is proving to be a force for all types of charities by speaking to all demographics, most especially engaging millennials in philanthropy. This is an energizing time in the nonprofit sector.”
Heisman continued, “Historically, there is a three-year lag in philanthropic response to economic conditions. The Giving USA report notes that 2014 was the fifth year of growth across the four major sources of giving and, for the first time, the country has surpassed pre-recession levels of 2007, which is all right on target and excellent news for charities, the beneficiaries of charities, and philanthropists.”
Giving USA’s Report data revealed giving by individuals rose an estimated 5.7 percent in 2014 to $258.51 billion in contributions; giving by foundations increased 8.2 percent to $53.97 billion; bequest giving increased 15.5 percent to $28.13 billion; and corporate giving increased 13.7 percent to $17.77 billion. In 2013, corporate giving was the last category that did not see an increase.
A closer look at four of the nine charitable categories detailed showed donations to arts and culture with the largest increase of 9.2 percent to $17.23 billion, followed by environment and animals with a 7.0 percent increase to $10.50 billion. Donations to religion—the category with the largest total of donations overall—increased 2.5 percent to $114.90 billion; however, they continued their historically downward trend. Education giving—the second-largest in total donations—increased 4.9 percent to $54.62 billion.
The report noted a 5.1 percent increase of $26.29 billion in the public-society benefit organization category, where donor-advised funds are counted. Based on NPT’s Donor-Advised Fund Report research, NPT views this increase due in part to the fast-growing popularity of the giving vehicle.
“Charities are obviously successfully making a case for support. As we move forward, nonprofit organizations must continue to demonstrate their impact and commitment to the mission,” said Heisman. “There are 1.5 million charities in the U.S. We must create a clear voice and identity to ensure a long-term engagement with our supporters.”
To purchase a copy of “Giving USA 2015: The Annual Report on Philanthropy for the Year 2014” visit GivingUSA.org.
About National Philanthropic Trust
Founded in 1996, NPT is the largest independent donor-advised fund administrator in the U.S. and has raised more than $5 billion in charitable contributions. NPT currently manages over $2.6 billion in charitable assets and has made more than 110,000 grants exceeding $2.5 billion to charities all over the world—including 357 grants in 59 countries exceeding $55 million. NPT annually publishes the Donor-Advised Fund Report, the industry’s authority on the state of DAF giving. More at NPTrust.org.