charitable giving

Philanthropy Not as Screwed as Financial Markets

We're gripped by an unusually strong bear right now. He's squeezing financial markets viciously. And, it comes as no surprise that charitable giving is suffering. Nonetheless, philanthropy is staying ahead of investment hits. Even with stock market calamity, we're still able to find the occasional heart of gold out there.

Don't get me wrong, the situation's grim for the nonprofit sector. Craig M. Joseph of InQuest International, a full-service philanthropic consultancy, observes that the USA Giving Index – calculated by the Center of Philanthropy at Indiana University – is down 35 percent from its 2007 peak. That year, $306 billion in charitable gifts were made. With the steep decline over the past two years, though, a lot of organizations won't get the funding they need.

Of course, it could be worse. If philanthropy followed the Dow, gifts would have fallen more than 40 percent to less than $184 billion – rather than the estimated February 2009 level of $199 billion. With numbers this large, $15 billion may not seem like a lot, but in the hands of an efficient charitable organization, it can change a lot of lives.

For now, the news is "less negative," but there is still a lot of pain that still has to be pushed through the markets, as much of the Wall Street calamity likely has yet to be visited upon consumers. Let's just hope that we still find some room in our wallets to support our favorite charities.

Tags: charitable, charitable contributions, charitable giving, charitable organizations, CharitableContributions, charitablegiving, CharitableOrganizations, charity, financial crisis, FinancialCrisis, giving, non-profit, nonprofit, philanthrophy, philanthropist, philanthropists, philanthropy, recession, stock market, StockMarket

Nike Co-Founder Pledges $100M to Cancer Research

by Tracy Chait (RSS feed) —

Filed under: Big Givers

Nike co-founder Philip Knight and his wife Peggy have recently pledged $100 million towards the Oregon Health and Science University -- specifically its Cancer Institute, which will soon be renamed after the Knights.

The bulk of the funds will go towards hiring additional physicians and researchers, according to OHSU director Dr. Brian Druker, and $2 million of the Knights' gift is earmarked for new research labs to be named after a friend of theirs who died of breast cancer this year, Linda Conant.

You can see Dr. Drucker respond to the Knights' gift, one he says "will save lives."

Philip Knight's wealth is estimated at $10.5 billion, and he has donated similar major gifts to such institutions as the University of Oregon (his alma mater) and Stanford University.

[via The Chronicle of Philanthropy]

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Tags: cancer research, CancerResearch, charitable giving, CharitableGiving, nike, ohsu cancer institute, OhsuCancerInstitute, phil knight, PhilKnight

"I'm Not Rockefeller" Study Inspects Giving Habits of The Wealthy

by Tracy Chait (RSS feed) —

Filed under: Charity, Big Givers

A study released last week by the University of Pennsylvania's Center for High Impact Philanthropy indicates some of the habits of the nation's wealthiest donors. (The survey interviewed those who on average donate at least $1.5 million on an annual basis.)

Despite donating millions each year, very few of the respondents chose to identify themselves as "philanthropists," preferring more modest terms like "community supporter."

The study found that wealthy donors are most likely to determine a gift based on personal experience or recommendations from within their social networks. Due to the difficulties of tracking major gifts, many recipients cited greater willingness to give something tangible -- a new library or a specific scholarship. Donors also stated that it was often difficult to obtain information on an organization's progress without seeming "high-maintenance."

You can read more about the study's findings at the Center for High Impact Philanthropy, a resource center founded by Wharton alums that helps high net worth individuals maximize their charitable giving impact.

[via The Chronicle of Philanthropy]

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Tags: charitable giving, CharitableGiving, charity, university of pennsylvania, UniversityOfPennsylvania, wealthy donors, WealthyDonors, wharton

IRS Revises Charity Tax Rules

by Tracy Chait (RSS feed) —

Filed under: Charity

In a highly-anticipated overhaul, the IRS has successfully revised its rules for charities filing taxes. Form 990 will now require charities to disclose employee salaries greater than $150,000 and will also ask organizations to report "key employees" who control a 10% or greater portion of the charity's activities. The changes will arguably make many charities more transparent and therefore easier to research on behalf of potential donors.

Guidestar.org, the non-profit data kings, will use this new information to provide more comprehensive analysis of the non-profits in its database, all in the attempt to encourage charitable giving by providing individual donors (and their estate planners) with the facts they need.

Tags: charitable giving, CharitableGiving, charity, guidestar.org, irs, taxes

Win-Win Vacations: Luxe Travel Meets Big Donations

by Tracy Chait (RSS feed) —

Filed under: Luxury Travel & Hotels, Auctions, Charity

We've seen the rise of "voluntourism" and eco-tourism of the luxe variety (think private bugalow in Figi, not hippie yurt). But giving back and luxury travel have rarely been an oft-cited pair. Until, that is, CharityFolks.com came on the scene, crafting unique travel plans including exclusive meet-and-greets like an evening with the cast of The Sopranos, then sending along the proceeds to charity. Each trip functions as an auction, so you'll need to get your virtual paddle up if you want to claim jaunts like a weekend at the Newport Jazz Festival, or luxe accommodations at Vail. The site hosts more traditional charity auctions as well, which have been written about here in the past, but if you planned to stay at the Four Seasons whilst touring Provence anyway, why not do it through an organization that will then donate on your behalf to UCLA's Jonsson Cancer Center?

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Tags: charitable giving, CharitableGiving, charity, charity auction, CharityAuction, charityfolks, charityfolks.com, four seasons, FourSeasons, luxury travel, LuxuryTravel, newport jazz festival, NewportJazzFestival, provence, the four seasons, TheFourSeasons, vail