The urgent needs created by three major natural disasters -- the tsunami in Asia, earthquake in Pakistan and hurricanes Rita, Katrina and Wilma -- drove American philanthropy to its highest level since the end of the technology boom, a new study showed.
The report released Monday by the Giving USA foundation estimates that in 2005 Americans gave $260.28 billion, a rise of 6.1 percent, which approaches the inflation-adjusted high of $260.53 billion that was reached in 2000.
About half of the overall increase of $15 billion went directly to aid victims of the disasters. The rest of the increase, meanwhile, may still be traced to the disasters since they may have raised public awareness of other charities.
Another recent report, from the Foundation Center, also shows an expected rise in corporate giving. Earlier this month, the center released a report showing an increase in philanthropy by corporate foundations, a subsector that has doubled in size from 1987 to 2004. That study predicts that nearly 2,600 corporate foundations gave $3.6 billion in 2005, a rise of 5.8 percent. The study noted that the growth rate was slower than for other types of foundations.
[The New York Times]
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