March 21, 2014

Improving Financial Situations = More Charitable Contributions?

Not necessarily…

According to a Dunham+ Company/Wilson Perkins State of Philanthropy Study, 61% of households said their charitable contributions will be the same in 2014 as 2013.  This, despite an increase in personal finance situations in 35% of households and 51% of households of more than a $100k/year.

And don’t rely on people who make less than $35k/year, are aged 55-64 or who live in the Northeast – they are planning to give less.

On average, Americans between the ages of 45-64 are planning to decrease donations by 66%.

It’s not all bad news!  African Americans, people aged 18-35, and people who make $100K+/year are planning on giving more this year. Also, those who would typically manage their budgets by reducing the amount they spent on charitable giving is at an all-time low in 2014 at 20 percent.

Get the full report at Dunham+Company