New data makes experts believe that charitable giving by individual Americans will rebound in 2010, after dropping 5 percent from 2008 to 2009.
Based on indicators in the first two quarters of 2010, a report from the Center on Wealth and Philanthropy at Boston College predicted individual giving might grow to as much as $227 billion as the economy begins to rebound. That is still less than $228.5 billion recorded in 2008, but good news for so many organizations and activities in our community that depend on the power of philanthropy.
Data came from a variety of sources, including the Federal Reserve, Bureau of Economic Analysis and Bureau of Labor Statistics. The Center will continue to monitor giving through a newly developed model, and we’ll keep watching as all the caring people in our own generous community do their part.