fbpx

Charities Hit Hard by Recession

Many fundraisers say they still can’t raise as much as they did before the economy soured in 2008. Particularly difficult to come by, they say, are gifts from affluent donors.

We’ve all been affected by the financial crisis surrounding the recession. With less money coming in during these tight financial times, there is less available to spend …and also less to give to those who are in need.

The Chronicle of Philanthropy offered some quantifiable perspective on the crisis in the non-profit sector over these past three years in an article titled, “Giving by the Rich Dropped $30-Billion During Recession.” Indeed, from 2007 to 2009 charitable giving dropped by some $31 billion amongst those with incomes of $200,000 or more according to recent data from the IRS. If you move to the other end and count individuals earning $100,000 or less annually, the charity deficit runs up another $4 billion or so.

Keep in mind, since these are IRS numbers, this only reflects actual charitable contributions for which deductions were taken. Ultimately, these numbers will be seen and felt by the non-profit sector, to include your favorite charities and those they serve.

As we approach the end of the year and the season of giving, have you made plans for your charitable gifts this year?

You can learn more about charitable planning on our website. Be sure to sign up for our complimentary e-newsletter to stay abreast of issues like these that could affect you, your loved ones and your estate planning. 

Reference: The Chronicle of Philanthropy (August 29, 2012) “Giving by the Rich Dropped $30-Billion During Recession

Like this article?

Share on facebook
Share on Facebook
Share on twitter
Share on Twitter
Share on linkedin
Share on Linkdin
Share on pinterest
Share on Pinterest

Leave a comment

LIKE THIS POST?

We have a LOT more where that came from!

We hate spam too. We will never share or sell your information.

Call Now ButtonCall Us Now https://jsfiddle.net/7h5246b8/

Request a free consultation

We hate spam too. We will never share or sell your information.

We've been putting together as many resources as possible so that we can continue to help:

  • If you’re a current client with a signing appointment or a prospective client with a consultation and would prefer that meeting take place in your own home, we can accomplish that with a little bit of pre-planning on our part and with the addition of a laptop, smartphone, tablet or other computer in your home to facilitate this virtual meeting. For those of you that need to sign legal documents, that too can be accomplished with the use of a webcam (FaceTime etc.), so that we can witness and electronically notarize all of your important legal documents.
  • We launched the rollout of our on-demand webinar early so that new clients and our allied professionals can view the important component parts of ‘an estate plan that works’ at their convenience.  That is available on our website.
  • Live video workshops will be produced as quickly as possible and certainly ahead of our previous schedule; we will keep you posted as these events become available. Given the ‘boutique’ nature of the firm, we rarely have more than ten people in our office including team members at any one time. During this period of ‘social distancing,’ we promise to have no more than 8 people at any time.   This allows us to comply with the Governor’s directive to limit in-person gatherings.
  • The best way to communicate with us is still by phone during regular office hours of 8:30 to 5:00, Monday through Friday, or, you can email any of our team members (that is, their first name followed by @zarembalaw.com).  We will respond to these emails as quickly as possible.
  • Please continue to follow the directives of our local, state, and federal agencies. For your health and in consideration of our team who is assisting you, if you’ve scheduled an office appointment or planned to drop off paperwork and are experiencing a fever, dry cough, or shortness of breath, please contact your primary care doctor for guidance and then our office to reschedule.

Thank you, Walt and the Zaremba Team

Coronavirus/Covid-19
Update to our Process

The unprecedented coronavirus pandemic has taken our entire country by surprise. We understand how difficult this time is for America’s businesses and families.  However, we believe it is vitally important that we make every effort possible to continue to offer solutions that avoid disrupting our important partnership with you, your family and friends.  As you know, estate planning is not something that should wait for a more convenient time, therefore the opportunity to address your important goals both during and after this crisis should not wait.  To that end, we have added the option of a ‘virtual consultation’ to our office process.  You will now have a choice of either meeting with us in our office or in the comfort of your own home.