US Private Philanthropy Held Steady in 2008

An unexpected bit of good news I encountered at the end of my day: a new report Hudson Institute’s Center for Global Prosperity says that US giving overseas held steady in 2008. Despite the financial crisis, Americans continued to donate to international charities.

“contributions from foundations, corporations, nonprofit groups, religious organizations, and universities, as well as commitments of time from volunteers, totaled about $37.3-billion in 2008. That compared with $36.9-billion the previous year.”

It does look like 2009 numbers will come out lower. Several major private foundations have announced reduced giving, and it’s likely that individual donors followed the same trend. The 2008 numbers, though, give us hope that the reduction won’t be as bad as it could have been. American generosity helps make the world a better place; I am glad to see it persevere.