from Fundraising Success Magazine; by Eileen Heisman, president and CEO of National Philanthropic Trust:
With the economic slump, the significant decline of the stock market, and consumer confidence at historic lows, many in fundraising are watching how the current turmoil will affect charitable giving.
Is there any good news or silver lining in this dark cloud? Yes. Fundraisers can take solace in the fact that Americans are remarkably resilient in their charitable giving. Individuals account for 88 percent of charitable giving in this country, with the donations equaling 2.2 percent of the nation’s gross domestic product — a figure that has changed very little in the past decade.
While it’s true that past economic downturns have cut deeply into the bottom lines of nonprofit organizations, research indicates that it might not be as dire as conventional wisdom might predict.