Generous Americans give more to charitable organizations during this pandemic, according to recent surveys. it was revealed that the frequency of charitable donations by both private companies and individuals has increased during the economic uncertainty caused by the coronavirus pandemic.
In a survey recently carried out, Lending Tree revealed that almost two-thirds of the respondent maintained that they had donated to charities within the past one year with about 34% donating more than once.
This survey further revealed that 56% claimed they make recurring donations, which means they give to the same charity monthly. Furthermore, more increases in charitable giving which are not often recorded as a result of the inability to write them off on taxes have been recorded by the Lending Tree survey.
A lot of public debate was ongoing before the first stimulus package was passed in the U.S, the debate was based on whether people who had property or monetary means would continue supporting people who banked on them for livelihood despite recognizing the gravity of the financial setback the economy is about to experience.
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The survey reveals that most people chose to ensure that person-to-person service providers didn’t experience hard times. This shows that there are generous Americans who are willing to give more during this pandemic.
Heavy Duty Giving
While personal charity is a good indicator. Of how generous a society, it’s also surprising to note that large-scale corporate donation increase during the year 2020.
The biggest organizer of donor-advised funds (DAFs), Fidelity Charitable reported in June that these funds donated $3.4 billion in 2020 which accounts for 28% in charitable giving from that same period over the previous year.
Charles Schwab was reported to have seen a 46% increase in DAF grants which amounts to 1.7 billion dollars across 330,000 separate grants. This was recorded as the most generous giving period in the history of philanthropic funds in America.
The last six months have been incredibly challenging, and I am truly inspired to see donors utilize their donor-advised funds to help communities and nonprofits impacted by health, economic, and social crises.The President of Schwab Charitable, Kim Laughton