Financial Contributions to Education Rose 5.6 Percent in 2012
June 26, 2013
Giving USA, an annual report produced by the Indiana University Lilly Family School of Philanthropy and the Giving USA Foundation estimates the total amount of financial contributions received by all types of charitable and nonprofit organizations in the United States (in-kind contributions are not included). These national estimates are based amounts received by nonprofits that are recognized as tax exempt by the Internal Revenue Service (IRS), plus churches and other religious organizations. Included are estimates of donations to these charities made by about approximately 117 million households in the U.S., along with 12.4 million corporations that claim charitable deductions, 99,000 estates, and 76,000 foundations. The donations go to about 1.1 million IRS-registered charities plus 222,000 American churches and other religion-based groups.
The results for 2012 represent a continuing recovery in charitable giving. Total donations reached a record high of $344.5 billion in 2007. From 2007 to 2009, as a result of the economic recession, total giving fell below $300 billion before recovering during the past three survey years. The 3.5 percent gain in donations slightly below the rate of growth in 2011, when total donations increased 3.9 percent in current dollars.
Over the past decade, total financial contributions to non-profits have grown $78.8 billion. Despite this recent gain, donations to charities remain far below the highs reached prior to the 2008-2009 economic downturn. At current rates of growth, it would take another six years before total donations return to the previous levels.
Corporate Giving Drives the Recent Results
Overall, individuals provide the vast majority of donations to charitable organizations making up 72 percent of the total received in 2012. However, corporate philanthropy drove much of the increase received over the past year. Giving by private businesses rose 12.2 percent from 2011 to 2012, and now accounts for 6 percent of total donations. Giving by individuals rose 3.9 percent, but donations from bequests fell 7 percent.
While education-related organizations received 13 percent of all donations, the plurality, 32 percent, when to churches and other religious organizations. Human service organizations (such as the American Red Cross and the United Way) also received 13 percent, and gifts to foundations totaled 10 percent. Most other charitable organizations received less than 10 percent of the total
Copies of Giving USA 2013: The Annual Report on Philanthropy may be purchased from the Giving USA website. Highlights of the report may be downloaded without charge.
Director, Research and Policy Analysis
- ED Releases College Ratings System Framework
- Recap: Top 10 Federal Policy Changes in 2014
- Obama Proposes Free Community College
- 2015 Endowment and Debt Management Forum
February 4-6, 2015
- 2015 Unrelated Business Income Tax
February 25-27, 2015
- ON-DEMAND: How to Build, Develop, and Support a Compliance Program at Your Institution
- ON-DEMAND: Strategic Tuition Assessment and Tuition Restructuring
- ON-DEMAND: Are Shared Services Right for Your Organization – The KU Journey
- ON-DEMAND: VIRTUAL: 2014 Annual Meeting
- ON-DEMAND: VIRTUAL: Student Financial Services Conference
- ON-DEMAND: VIRTUAL: Higher Education Accounting Forum
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis