Annual donations on the rise in the US
June 21, 2013
It seems like everyday there are stories in the news regarding a large foundation making a sizable donation to a nonprofit organization or charities being funded by private citizens in their communities. Maybe this has just become more noticeable in the media because, as recent studies have pointed out, Americans are donating more than ever before.
The Giving USA Foundation recently published a report which stated that donations from Americans increased 3.5 percent between 2011 and 2012. Last year alone, people and foundations based in the United States gave a total of $316.23 billion to innumerable charities.
This rise might be attributed, at least in part, to shifts in the U.S. tax code or continuing economic improvement.
Others might believe that the rising amount of donations might have to do with the fact that nonprofit technology is making giving money easier. For instance, PYMNTS reported that until June 17, account holders with U.S. Bank were able to make donations to the American Red Cross through more than 2,000 participating ATMs. The funds benefited those affected by the recent tornadoes in the Midwest.
Foundations and organizations that provide annual funding might benefit from nonprofit accounting software, which can help board members audit funds and make sure the correct amounts are being distributed to various programs each year.