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Wednesday, March 18, 2009

How Will the Economy Affect Your Charitable Giving this Year?

The recession is hurting untold numbers of Americans but, of the 17,365 charitable donors surveyed in January by Cygnus Applied Research, the majority (52%) said that their level of giving would remain unchanged in 2009. A recent Chronicle of Philanthropy article highlights key findings of the survey.

Among the most notable:
  • 50% of those who plan to give the same amount as last year indicated they would make sacrifices in other areas of their lives in order to do so
  • 87% who have pledged multi-year gifts will honor those commitments
  • 30% don't know what impact the economy will have on their giving
  • Just 17.5% intend to give less--and those who are giving less will give smaller gifts rather than halt support altogether
  • More than 40% of respondents had lost jobs or seen reductions in their income
The results of this survey are incredibly encouraging in many respects and reinforce what we here at Charity Navigator have had the privilege to witness over and over again. That is that Americans are amazingly generous and will always step up to the plate to help others--in good times and in bad--and will oftentimes make significant sacrifices to make it happen. Read Cygnus Applied Research President Penelope Burk's "An Unexpected Gift from Donors" blog entry here. The comments are extraordinary!

So, let us know--how will the economy affect your charitable giving this year?

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