The holidays are a time of giving. The philanthropic spirit that emerges during this time of year also often lingers well into the new year, typically bringing an increase in charitable giving with it. Whether the time of year is responsible for an fluctuation that is only temporary is insignificant, there is nothing more pleasing than seeing people take an interest in helping those in need.
The statistics of giving in 2016 can actually point to what philanthropic giving is predicted to look like in 2017. Broken down into various “groups,” these are the philanthropic patterns that are anticipated for this coming year:
Not only is individual giving expected to rise in 2017, it is supposed to do so quite significantly – by around 3.8%! Why the sudden boost of generosity? In 2016, individuals experienced an average growth in personal income and an above average growth in household and nonprofit net worth. With more money attributed to them, there is reason to believe that the amount they give to charity will be higher in 2017.
If one of your New Year’s resolutions is to give back, I urge you to find an organization that holds meaning to you and consider giving back to them in any way you can! Many wrongly assume that money is the only form of charity that actually matters, which couldn’t be farther from the truth. There are other ways that you can give your time and resources to make a difference.
2016 had already seen an increase in foundation giving, but that’s expected to rise to 6.4% in the new year! As more and more individuals start giving back – or begin to increase the amount that they do give – it is only going to increase a foundation’s philanthropic giving as well.
Compared to the other avenues, corporations make up about 5% of charitable giving. This number may not seem very significant, but many people would be surprised to know that this percentage has surged over the past few years. Businesses are starting to take responsibility for their lack of giving in the past, realizing that they can make more of an impact than one individual could, so they are creating ways to get more engaged. For example, some companies are incentivizing the process by inspiring their employees to donate, promising to match whatever they give. Instead of focusing on money, some other companies use their time by organizing large groups to volunteer out in the community.
Have you noticed a pattern within these three different categories? Yes, philanthropic giving is clearly predicted to be on the rise, but it is because of you. Not only are individuals being more charitable on their own, but they are giving more to foundations and getting more involved within their companies. Giving more to foundations allows that particular foundation to give more on their end and getting more involved within your company allows your company to make more of a difference. So if you want to do something extra this year, find out ways that you can get involved! At the heart of philanthropic giving is your generosity.