Giving from wealthy Americans still not hitting the mark
August 30, 2012
While the American economy is rebounding from the recent recession, charitable donations from the wealthiest Americans is keeping up with the same pace, according to a recent report from the Chronicle of Philanthropy
"We are looking to people making $200,000 and up to get more than $30-billion back into the nonprofit sector," Robert Sharpe, a Memphis fundraising consultant told the source.
This is often because individuals in this tax bracket are highly susceptible to fluctuations in the market, and many continue to feel unstable about current economic conditions despite recent upticks, Sharpe explains.
However, nonprofit organizations are taking the brunt of the declines in giving, as charitable bequests dropped 15.2 percent in 2008 and 2009 - at the height the recession - according to a new "Giving USA" study, as reported by the source.
Some nonprofits are adapting their efforts in light of these trends, using software programs to generate reports that can quantify the impacts they have in communities. Philanthropists with limited funds are becoming choosier about the programs they support, and often opt for those that can prove they are most effective. Otherwise, organizations can stretch their funds with solutions such as nonprofit financial management
, which makes it easier to track and audit accounts.