Encouragingly, despite the slow recovery from the recession that began five years ago, individuals, U.S. foundations and corporations are still opening their wallets—albeit conservatively—for the causes and organizations they deem important.
Giving to education remains on the rise, according to the recently released Giving USA: The Annual Report on Philanthropy for the year 2011 (2012). Chicago: Giving USA Foundation. While giving to educational organizations is on the upswing, the increase in charitable giving from 2010 to 2011 overall marked the second slowest increase of any two-year span following a recession since the 70s. However, according to the report, giving to education showed a modest increase in the 2010-2011 fiscal year.
In February, the Counsel for Aid to Education published the 20 universities that netted the most donations. The top five: Stanford, Harvard, Yale, MIT and Columbia.
In addition to education, other charitable sectors showing improvement in giving rates included human services, health, and public-society benefit organizations. Conversely, giving to foundations and to religion showed a decline.
At Ellucian, we’re keenly aware that competition for these valuable dollars is intense. We are interested to hear if and how your strategies for securing gifts for the remainder of this year and into 2013 may change based on the findings of the Giving USA report.