By Natalie Roytman
According to The Chronicle of Philanthropy, giving will increase by 4.8% in 2015 and 4.9% in 2016, based on research conducted by Indiana University. Individuals, corporations, estates and foundations will all elevate their giving. Here are three reasons why:
1. Foundations are ready to deploy their market gains
During the past few years, foundations have been hurt by the stock market. They are now ready to utilize their market gains, which will lead to a 7.2% increase in foundation grants this year.
2. Ralph Wilson fulfilled a $1 billion Bequest
The founder of the Buffalo Bills football team left about $1 billion dollars after he died in 2014, giving the money to nonprofits in New York and Michigan. Gifts by estates are expected to increase 2.7% this year, partially because of his gift.
3. The recession is over
The growth in giving is higher than the 3.1% average annual rate of growth since the recession, according to a “Giving USA” study.
The potential increase in giving this year is significant because it can help nonprofit organizations continue to thrive. They will also have more support to achieve their goals. You can make this study become a reality for the years of 2015 and 2016 by continuously donating to organizations when you can. Every donation makes a difference!
image via business2community.com
About the Author: Natalie Roytman is a senior studying journalism and international studies at the University of Iowa. She enjoys traveling, taking photos, writing and spending time with her family and friends.