You may find it interesting which type of charities see the most decline during bad economic times. Just like certain industries might be hurting more than others, charities see uneven declines as well – this piece might help you when thinking about different donation strategies.
- In 2008, charitable donations fell drastically as the effects of the recession were being fully realized.
- Even with such a decline, total giving was still at at an historic level – higher than every previous year except 2007.
- Charities are uncertain how the recession will continue to affect donations, but they are pretty sure that giving will keep declining for a while longer.
Facts & Figures
- In 2008, gifts and pledges decreased 5.7% to $307.65 billion.
- Charities that provide basic services (food banks and shelters) saw an estimated 15.95% decline in donations for 2008.
Best Quote
“We saw corporations begin rethinking their giving in greatly different ways, and we saw individuals begin to revisit their philanthropic priorities.” – Del Martin, Chairman of the Giving USA Foundation