(StraightNews.org) – High inflation, depressed wages and financial uncertainty have many effects throughout a nation. One of which is being felt by charities of every kind. According to the organization Charity Giving, 2022 was the worst year for worthy causes since 1995. They say American giving was $499.3 billion in 2022 which was a 3.4% downturn.
When adjusting for inflation as compared to the prior low in 1995 it comes out to be a 10.5% decrease. It seems Americans simply don’t have the disposable income they used to have. As Americans struggle to afford, groceries, gas and energy people in need will drift further away. Among the largest drops were human service organizations which fell 8%, animal and environmental causes fell by nearly 9% and educational organizations fell by just under 11%. Religious organizations fared a bit better only falling 2.6%. Overall, Americans gave roughly 1.7% of their available income to charity marking the lowest percent in three decades.
Corporations, foundations and bequests were shown to be giving more but when inflation is factored in, the value of the amount given is a decrease. Experts note that the number of Americans donating to charity over the last few years has decreased but the amount given has nonetheless increased. Another notable trend in donations is that the wealthiest individuals comprise nearly 5% of all giving with the top six individual donators are responsible for just under $14 billion in funds.
Among the hardest hit are community centers which rely on community support. These would include local museums, parks and other smaller enterprises. One such example is the Everson Art Museum in Syracuse, New York. They’ve seen local donations decline with residents having financial hardships. Management has had to make budget cuts including cutting many free programs which had been available to community members.
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