The contribution to social welfare by nonprofits in the world today is well documented. Philanthropic organizations are known the world over for the great work they do in reducing distress and suffering among communities. Salvation Army is a good example of an organization whose impact has been felt globally for years since its founding by William Booth. This organization receives donations from well wishers and uses them to serve people who are in distress in the 109 countries in which it has a presence. The largest donors in the Unites States gave 5.6 billion dollars in 2016 to Nonprofit organizations,according to The Chronicle of Philanthropy. A downward trend of donations is notable though,with the years 2014 and 2015 receiving lower amounts than had been received previously. 16 of the donors on the Philanthropy 50 list had made their money in finance,while the first four positions were taken by companies in the technology field. An interesting fact is that 20% of the total contribution was given by just 9 donors. Fund raisers working for nonprofits would naturally want to know where all this giving goes.
Discover who received the 5.6 dollars given away in 2016.
Learning institutions such as colleges and Universities received about 50% of the contributions from the wealthy in the U.S. It is possible colleges and universities benefited most from the donations because some of people on the donors list had been students of those organizations.
Incredible Lessons I’ve Learned About Funds
It does appear like the truly wealthy have a thing for art. 293 million dollars of the dollars given went to museums!Can you believe that 293 million dollars were given to museums? To be precise,175 million dollars worth of gifts was received by two museums in the United States. The Los Angeles County Museum was the recipient of 75 million dollars of the 175 million that went to museums,while New York Museum of Modern Art secured the remaining 100 million dollars.
What You Should Know About Options This Year
If you run a nonprofit organization and would want to know if these big givers ever think of organizations such as yours,you are hereby reliably informed that DAFs(Donor-Advised Funds)received at least 328 million dollars. Some of the individuals on the donors list decide to manage their gifts through giving it over to public charity where they retain full rights as to who is the final recipient of such funds. This is a beautiful arrangement that lets the wealthy giver save a lot of money through taking advantage of certain tax laws that allow donations given to public charity to be deducted from the taxable income of the person or their company,and at the same time,build a fund that keeps nonprofits doing what they do best-bettering the lives of their communities.
It is a great idea to have a good relationship with the public charity office as they might happen to have one or two donors who approached them for recommendations on who to give their money to.