5 Stats You Didn't know about Charitable Giving
At this point, we’ve all seen the videos and shout outs: “I’ve been nominated by so and so and am accepting the ALS Ice Bucket Challenge. Now I nominate…”
**WHOOSH WATER DUMPED ON HEAD**
It’s pretty incredible to watch a charity tactic go so viral. Now we see celebrities, CEOs, and athletes chipping in and joining the cause. Clearly, this is a genius idea by the ALS Association and they have been able to raise over $13 million as of now. It will likely grow as the trend continues. Wow!
At Wealth Legacy Institute, the values of your family are always at the center of your financial plan. Charitable giving is a part of that. What charities do you donate to and why? These are important questions to ask yourself, your spouse, and children. Choosing a family charity is a great way to encourage philanthropy and show family members the importance of charitable giving.
We couldn’t help but wonder where other Americans stand with their charitable giving, the findings were pretty interesting.
1. 95.4% of households give to charity.
2. The average annual household contribution is $2,972.
3. In 2013, the majority of charitable dollars went to religion (31%), education (16%), human services (12%), and grant making foundations (11%).
4. In 2013, online giving grew by 13.5%, while overall charitable giving grew by 4.9%.
5. 64.5 million adults volunteered 7.9 billion hours of service, worth an estimated value of $175 billion.
Those are some pretty impressive numbers! What charities do you and your family donate to? Do you prefer to give time or money?
Sources: The Center on Philanthropy at Indiana University, Giving USA 2012,The Charitable Giving Report, derived from The Blackbaud Index