Covid 19 Time SeriesA new report from the Institute for Policy Studies (IPS) documents a troubling trend of small-donor declines with a parallel rise in wealthy mega-donors within the nation’s philanthropic sector. Between 2000 and 2016 (most recent data), the percentage of households giving to charity has dropped from 66 per cent to 53 per cent. The increase in charitable giving has been driven by donations by wealthy donors and mega gifts over $300 million. In the early 2000s, households earning $200,000 or more made up only 30 per cent of all charitable deductions. The richest 1 per cent of wage earners claimed one-eight of all charitable deductions, today, they claim one-third.

Source: Standard Digital July 29, 2020 14:48 UTC