A study by the Giving USA Foundation concludes that charitable giving in America fell by 5.7% last year. While this is much less than the 40% drop in endowments and the stock market, the decline has been especially hard on charities that help individuals in need with basic necessities, which experienced a 15% drop in donations.
The findings were adjusted to take into account inflation.
For more information on giving in other areas, such as education, see Stephanie Strom, Charitable Giving Declines, A New Report Finds, NY Times, June 9, 2009.
