Giving Milestone Reached
by Jessica High

Giving USA Foundation recently released a report on giving to religious organizations and congregations. It found that in 2007, $102.3 billion was given, setting a record. This amount is one third of the total giving to U.S. charities in 2007. Half of the money given by individuals went to religious groups. This is important to note since individual giving makes up the majority of charitable contributions.

 

This is the first year that giving has ever reached the $300 billion mark. It is a 1 percent increase (number adjusted according to inflation) from 2006 when $294.91 billion was given. According to Giving USA’s report, “The increase in 2007 can be owed to stock market performance in the first half of the year, overall growth in the economy measured by gross domestic product, and increases in corporate and personal income as reported at the end of the year,”

 

“Giving USA 2008 shows that a strong start to the economy in 2007 helped lift giving despite worries at year’s end from gasoline prices or the housing and mortgage crises,” said George C. Ruotolo Jr., chair of the Giving Institute.

 

Charities are encouraged with the growth and new milestones are exciting, but many are worried if the giving will be enough. For example, Catholic Charities in Wichita, Kansas, saw a ten percent increase in giving, but a 30 percent increase in people seeking assistance with food.

 

To read the complete report, visit http://www.givingusa.org/press_releases/releases/20080622.html

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