Charitable Giving
Report: Return to Pre-recession Donation Levels Could Be a Decade Away
A recent report by Giving USA, compiled by the Indiana University Center on Philanthropy, gives a rather bleak outlook on the possibility to return to pre-recession donation levels. As Philanthropy.com reports, industry growth at current rates (hovering at around one percent) will take until 2022 or later to return to 2007 levels. The slow fundraising growth in 2011 comes nowhere close to erasing the historic loss of charitable donations in the recession—the deepest ever recorded in the report’s five decades. Total donations to charities dropped by 13.4 percent in 2008 and 2009, “Giving USA” said as it released new estimates for contributions in those years. The. Read More.
These Fundraising Techniques May Leave Dollars on the Table
As Philanthropy.com reports, a recent survey of 15,000 donors showed 44 percent of respondents said they could have given more to charity in 2011. The down economy is fading as a powerful draw for donation, instead donors are looking for the maximum impact for each dollar given. The study also found fatigue in donors from over-solicitation, with around 65% of donors saying they felt asked too often for donations. Donors plan their giving—but there’s wiggle room. About 60 percent of donors said they budget for their giving at the beginning of the year, but some don’t stick to it. About 55. Read More.
Young Adults Giving Small Amounts in Large Numbers
According to the recent 2012 Millennial Impact Repor t, 75 percent of young adults (20-35) said they gave money to a nonprofit organization in 2011 and 70 percent reported soliciting peers to donate. The amounts donated, dollar for dollar, are still relatively small, with the majority of respondents making no single donation over $100. As the Chronicle of Philanthropy reports, this age group, though rarely targeted, is highly active once they have engaged with a charity.
In Banner Fundraising Year, Wealth Gap Between Universities Widens
Fundraising figures in 2011 were better than average for nearly all colleges and universities, but the discrepancy between the top 20 wealthiest universities and all others continued to widen drastically. As the San Francisco Chronicle reports, the top 25 wealthiest universities accounted for 86 percent of all $30.3 billion in 2011 fundraising. Last year’s fundraising total nationally remains $1.3 billion below the 2008 peak of $31.6 billion, and while some non-elite schools had good years, many were still struggling as the economy sputtered last year. Roughly two-thirds outside the Top 20 saw fundraising rise by less than the 8.2 percent national average.
IRS Lauches Exempt Organizations Select Check
The IRS recently announced the launch of the Exempt Organizations Select Check , an online search tool which provides information regarding the federal tax status and filings of exempt organizations. Select Check condenses information previously housed on three different sites to more efficiently search for an organization’s: Eligibility to receive tax-deductible charitable contributions (Publication 78 data), Tax-exempt status revocation due to lapses in Form 990 filing in three consecutive years (Auto-Revocation List), and Annual Form 990-N filings (e-Postcard). Starting this month, Select Check will be updated monthly for most information, and more often for 990-N filings. For more information and search tips , visit Exempt Organizations Select Check.
IRS Launches New Online Search Tool to Check Tax Status of Exempt Organizations
The IRS recently announced the launch of the Exempt Organizations Select Check , an online search tool which provides information regarding the federal tax status and filings of exempt organizations. Select Check condenses information previously housed on three different sites to more efficiently search for an organization’s: Eligibility to receive tax-deductible charitable contributions (Publication 78 data), Tax-exempt status revocation due to lapses in Form 990 filing in three consecutive years (Auto-Revocation List), and Annual Form 990-N filings (e-Postcard). Starting this month, Select Check will be updated monthly for most information, and more often for 990-N filings. For more information and search tips , visit Exempt Organizations Select Check.