Americans Give Record 295 billion dollars to Charities Last Year

Americans gave nearly $300 billion to charitable causes last year, setting a new record and besting the 2005 total that had been boosted by a surge in aid to victims of hurricanes Katrina, Rita and Wilma and the Asian tsunami

Giving historically tracks the health of the overall economy, with the rise amounting to about one-third the rise in the stock market, according to Giving USA. Last year was right on target, with a 3.2 percent rise as stocks rose more than 10 percent on an inflation-adjusted basis.
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The biggest chunk of the donations, $96.82 billion or 32.8 percent, went to religious organizations. The second largest slice, $40.98 billion or 13.9 percent, went to education, including gifts to colleges, universities and libraries.


About 65 percent of households with incomes less than $100,000 give to charity, the report showed.



"It tells you something about American culture that is unlike any other country," said Claire Gaudiani, a professor at NYU's Heyman Center for Philanthropy and author of "The Greater Good: How Philanthropy Drives the American Economy and Can Save Capitalism."
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He said Americans give twice as much as the next most charitable country, according to a November 2006 comparison done by the Charities Aid Foundation. In philanthropic giving as a percentage of gross domestic product, the US ranked first at 1.7 percent. No 2 Britain gave 0.73 percent, while France, with a 0.14 percent rate, trailed such countries as South Africa, Singapore, Turkey and Germany.
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