New Study Finds Philanthropy and Charity Giving Up Despite Recession
America's charitable giving has climbed out of the Great Recession-fueled ditch it was in and has dusted itself off.
In fact, according to a report this week, U.S. donations to charity rose to $298.42 billion last year, but were still $11 billion below a 2007 record as nonprofits battled through the sector's second-slowest recovery from recession in 40 years.
The study estimated 117 million U.S. households, 12 million corporations, 99,000 estates and 76,000 foundations gave to charities during the year. Their money went to approximately 1.1 million registered charities and some 222,000 American religious groups.
The findings found that nearly two-thirds of all Americans gave to charity in 2008. American charities took in nearly $300 billion in 2010. Published reports reveal that corporate donations remained flat at $14.5 billion last year, foundations made almost $42 billion in grants - an increase of 1.8 percent - while gifts from estates jumped more than 12 percent to $24.4 billion.
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