Donors Turn to Foundations as Charitable Giving Rebounds from Recession LowsBarry L. Stoltzfus, Executive Director, Univest Foundation
From 1972 to 2007, charitable giving in the United States climbed steadily – sometimes spectacularly (between 1995 and 2000) – peaking at nearly $345 billion in 2007. But the recession, predictably, had a deleterious effect on U.S. philanthropy. Overall giving tumbled 15% between 2007 and 2009.
According to a recently released report prepared by USA Foundation and the Indiana University Lilly Family School of Philanthropy, charitable giving is slowly recovering. Total 2012 giving to charities was $316.23 billion, up 3.5% over 2011. The primary beneficiaries of this increased giving appear to be arts, culture and humanities organizations, to which giving increased 7.8%, followed by educational institutions (7%) and environmental and animal-related groups (6.8%).
What were the sources of charitable contributions? Individual giving was far and away the leading source, followed by giving through foundations. But the increase in giving through foundations – a 4.4% increase – exceeded that of individuals and bequests and was second only to corporate contributions.
Univest Foundation has a number of charitable annuities and trusts – charitable gift annuities, charitable unitrusts, charitable annuity trusts, charitable lead trusts – that offer donors immediate income tax deductions, capital gains tax advantages and other donor/recipient benefits.
To find out more about Univest Foundation's portfolio of charitable giving options, contact the team at 215-703-5247 or email email@example.com. We can help you explore a variety of planned gift options to meet your financial needs and goals.