American’s Charitable Giving Tops $400-B
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Driven by a rising stock market and huge gifts from billionaires, charitable giving in the United States in Y 2017 topped the $400-B mark for the 1st time.
The Giving USA report, released Tuesday, said giving from individuals, estates, foundations and corporations reached an estimated $410-B in Y 2017.
That is more than the GDP (gross domestic product) of countries such as Israel and Ireland.
The total was up 5.2% in current dollars (adjusted for inflation) from the estimate of $389.64-B for Y 2016.
“Americans’ record-breaking charitable giving in 2017 demonstrates that even in divisive times our commitment to philanthropy is solid,” said an official of Giving USA Foundation, which publishes the annual report. It is researched and written by the Indiana University Lilly Family School of Philanthropy.
Giving increased to 8 of the 9 charitable sectors identified by Giving USA. The only decline was for areas related to International Affairs.
The biggest increase was in giving to foundations, + 15.5+. That rise was driven by large gifts from major philanthropists to their own foundations.
Other sectors with increases of more than 6% included education, health, arts and culture, environment and animal welfare, and public-society benefit organizations, groups which work on such issues as voter education, civil rights, civil liberties and consumer rights.
Tuesday, the major US stock market indexes finished at: DJIA -1.58 at 25320.73, NAS Comp +43.87 at 7703.80, S&P 500 +4.85 at 2786.85
Volume: Trade in the NYSE came in at 833-M/shares exchanged
- NAS Comp +11.6% YTD
- Russell 2000 +9.6% YTD
- S&P 500 +4.2% YTD
- DJIA +2.4% YTD
HeffX-LTN’s US Major Stock Market Indexes Technical Analysis