by George Rattin, Associate Vice President, HUB Philanthropic Solutions
You may have heard the expression the rising tide, lifts all boats. Applied to philanthropy, this expression summarizes the Giving USA 2015 results. This report released on June 16th tells the tale of giving in 2014. Giving across the board saw improvement in 2014 with giving from individuals increasing 7.1%, Bequests 15.5%, Foundations 8.2% and Corporate Giving increasing 13.7%. In general the improvement shown by all key economic indicators (S&P 500 Index, GDP and Corporate Profits) were higher than in 2013. Sector highlights include: gifts contributed to religion reaching their highest level ever, growth in education ,but was mostly strengthened by several large gifts made to Universities, leading all segments was the growth in the categories of the arts, culture and humanities seeing a 9.2% growth. Total giving in inflation adjusted dollars has now exceeded pre-recession levels. This recovery comes a year or two earlier than originally forecast.
In general, the improved economy and economic indicators are showing a ripple effect in the philanthropic world. It appears the increase in giving will continue into this year. Over the next two months, I’ll periodically explore individual segments and expound on what’s in store for some of the major areas. Until then, enjoy the improved landscape and happy fundraising!