Lackluster economic growth and stubbornly high unemployment didn't stop Americans from being generous in 2012, according to a report on charitable contributions released this week…"Historically, giving is a lagging indicator of the economy…The positive data in Giving USA's report indicates Americans may be feeling more confident about the global economy."
Despite what Giving USA's report attributed as the reason for an increase in charitable giving, I know that Americans are among the most generous people on earth. I believe this generosity stems from our Judeo-Christian heritage; for us, charity is an a joyous act. So I was not surprised to learn recently, that despite tough economic times in 2012, Americans actually increased their charitable giving.
As recently noted by CNN Money, “Americans were much more charitable last year.” Charitable giving was up in 2012 to the tune of a 4% increase in individual donations and a 12.2% increase in corporate giving. While there are many reasons for this, it is a positive fact.
So what of 2013? What are your plans, for example? If you have high hopes and good intentions for a large gift, then consider obtaining competent counsel to make the most of the opportunity for yourself and your charity.
You can learn more about this topic as well as other strategies on our website under the tab entitled: charitable planning in Virginia. Be sure you also sign up for our complimentary e-newsletter so that you may be informed of all the latest issues that could affect you, your loved ones and your estate planning
Reference: CNN Money (Junes 21, 2013) “Americans were much more charitable last year”