Donations of $290.89 billion reflect general slow rebound in American economy after Great Recession
CHICAGO, Ill. (June 20, 2011) – Giving USA Foundation™ and its research partner, the Center on Philanthropy at Indiana University, today announced that total charitable contributions from American individuals, corporations and foundations were an estimated $290.89 billion in 2010, up from a revised estimate of $280.30 billion for 2009. The 2010 estimate represents growth of 3.8 percent in current dollars and 2.1 percent in inflation-adjusted dollars.
“Our revised estimates show that 2008 and 2009 saw the largest drops in giving in more than 40 years as a result of the Great Recession, exceeding previous recessions’ impact on giving,” said Edith H. Falk, chair of Giving USA Foundation™. “Despite the fragile economic recovery, though, Americans continued–and even increased–their support of organizations and causes that matter to them in 2010. The $10.59 billion increase in the estimated total suggests that giving is beginning to recover as the economy slowly climbs out of the recession.”