The Pentera Blog
Bequests Lead the Way as Giving Reaches New High
Giving in the U.S. hit a record high last year - $358 billion - and the news for planned giving was especially good, with bequests increasing more than any other category, according to the just-released Giving USA report.
Bequest giving totaled $28.13 billion for the year and was up 13.6% when adjusted for inflation, the most of any category:
| • • • • | Giving by bequest Giving by corporations Giving by foundations Giving by individuals | up 13.6% up 11.9% up 6.5% up 4% |
Overall giving was up 5.4% when adjusted for inflation. The total dollar amount for 2014 slightly exceeded the previous high of 2007, prior to the recession.
Giving USA 2015: The Annual Report on Philanthropy for the Year 2014 is researched and written by the Indiana University Lilly Family School of Philanthropy and published by the Giving USA Foundation.
Eight out of nine categories of charities saw an increase in donations, with Arts/Culture/Humanities and Environment/Animals increasing the most. While giving to religion was up slightly, it continues to decline as a percentage of overall giving, from 53% of all donations in 1987 to 32% last year.
"The 2014 growth among eight out of nine types of charitable organizations is good news for the philanthropic sector as a whole," said W. Keith Curtis, chair of the Giving USA Foundation. "The growth can be attributed, in part, to the ways charities have been working smarter during daunting times. Nonprofits increasingly are making sure they have strong cases for support, communicate frequently with donors, and provide proof of the impact charitable gifts make.
"Now that there seems to be a bit of breathing room, I would encourage charities to continue all these good habits and ensure they remain ingrained as part of their organizational philosophy. If they do, success should continue."
The complete report is available for purchase at http://www.givingusa.org.
