Tuesday, March 7, 2006
List your statewide event in the Community Calendar
According to the fiftieth annual Giving USA report from the Giving USA Foundation, charitable revenue to the arts, culture and humanities accounted for $13.99 billion or 5.6% of total estimated giving in 2004. These private dollars are in addition to the $259 million that state arts agencies awarded to more than 24,000 grantees in fiscal year 2004.
Funding from individual donors, bequests, foundations and corporations to arts, culture and humanities organizations was found to have increased by 6.8% from 2003 (or 3.9% when adjusted for inflation). In fact, 2004 was a record year for charitable giving: contributions totaled $248.52 billion and the growth rate of 5% was the highest since 2000.
This year's increase in giving was likely fueled by continued economic stabilization. In addition, many of the key indicators of growth in charitable giving (such as gross domestic product, personal income and corporate profits) demonstrated notable growth. Prior research by the Giving USA Foundation has shown that giving to the arts typically increases one to two years after a recession, and 2004 appears to be following this pattern. Among all eight of the recipient categories, arts organizations experienced the third most pronounced growth.
Giving to all sizes of arts, culture and humanities organizations rose in 2004. Large organizations increased charitable revenue by 5.4%; medium-sized organizations increased charitable revenue by 4.5%; and small organizations increased charitable revenue by 12.2%.
Source: Giving USA 2005: The Annual Report on Philanthropy for the Year 2004, The Center on Philanthropy at Indiana University, published by Giving USA Foundation, AAFRC Trust for Philanthropy, 2005.