The Chronicle of Philanthropy has released the results of a new study, The Philanthropy 400 Tally, on Sunday, October 20, which ranks the charities that raised the most money from private sources in 2011. According to the study results, donations to top charities increased 4% between 2011 and 2012. They anticipate a 1% decrease in giving for 2013.
The study indicates that the largest non-profit organizations are barely coming close to making up the losses sustained during the recession. Gains are spread very unevenly between the 400 groups that raise $1out of every $4 in the United States. Approximately half of the charities tallied in the study are raising money in excess of their 2007 totals.
The Chronicle's data shows that traditional charities, ones which rely upon donations from a broad base of donors at all income levels, continue their struggle to meet fundraising goals, while wealthy donors whose finances rose in the post-recession economy are responsible for a large number of multimillion dollar gifts in 2012. Additionally, the study shows that in early October, 2013, commitments in excess of $1 million had twice exceeded those in 2012. The middle class, still plagued by an uncertain economy, continue to be particularly cautious, holding back on charitable giving.
The Chronicle study notes that "parking money" is a growing trend among rich philanthropists which accounts for large financial recoveries. 'Organizations create charitable funds for donors and those that depend on America's wealthiest philanthropists. Such so-called "donor-advised funds" allow the philanthropist to file for a charitable tax deduction, but the money is not immediately put to use by any charity or cause. Of the 20 groups whose donations grew by the largest percentages from 2007 to 2012, five were community foundations, business or others that offer the funds, which allow donors to put aside money to give away anytime they want, and get immediate tax benefits. Fidelity Charities collected more than $3.6 billion in it's 2013 fiscal year ending in June, an increase of 11.2 percent over 2012. Critics fear such donations are not reaching those who need help now.'
The Chronicle of Philanthropy's top10 list by rank is:
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