Tuesday, January 03, 2006

reviewjournal.com -- Business - PHILANTHROPY: Donating making a comeback

reviewjournal.com -- Business - PHILANTHROPY: Donating making a comeback: "Charities nationwide are on the rebound.

From 2000 to 2002, when stock markets shed trillions of dollars in value and foundations lost assets and donations as a result, philanthropies struggled.

Several national and global disasters -- the terrorist attacks of Sept. 11, 2001 and last year's South Asian tsunami, among others -- also hurt many nonprofits, as benefactors redirected giving to victims of widespread calamity.

Those obstacles kept giving by foundations at about $30 billion from 2001 to 2003.

But the Foundation Center, a charity trade group in New York, has released a report showing big strides in nonprofit giving in 2004.

America's 66,000 grant-making foundations boosted their giving 6.9 percent in 2004, from $30.3 billion in 2003 to an all-time high of $32.4 billion, the group's study showed. The $2.1 billion increase followed a $193.4 million decline in foundation giving from 2001 to 2003."

No comments: