In a rational response to tough economic times, the charitable activity of the wealthy has decreased somewhat, as this article from Bloomberg reports.
What hasn’t changed is the necessity for an organization to be philanthropically ready—being financially accountable and transparent—a cornerstone of the five steps my consulting practice works to ensure each client organization embraces.
An excerpt.
“Giving Less
“Philanthropy was another area where the wealthy have become more focused and cautious in the aftermath of the financial crisis, Van der Linde said. In the U.S., total charitable contributions fell 3.6 percent in 2009 to $303.75 billion from $315.08 billion in 2008, according to Giving USA Foundation.
“With less to give, donors are being more selective in their philanthropic activity.
“It’s not just blanketing several charities and hoping for the best,” said Van der Linde. “They are now looking to wealth management firms for advice on how to make philanthropy part of their investment planning.”
“The U.S. had 2.87 million millionaires, topping Japan and more than triple third-ranked Germany with 861,500, the report said. The number of millionaires in China soared 31 percent to 477,400, keeping the country ahead of the U.K. with 448,100.”
About
- David H. Lukenbill
- I am a California native, married, we have one daughter and live close to the American River with two cats and all the wild critters we can feed. I am a management consultant to nonprofit organizations and have an Associates of Arts degree in Administration of Justice from Sacramento City College, a Bachelor of Science degree in Organizational Behavior from the University of San Francisco and a Master of Public Administration degree, also from the University of San Francisco.