Charitable giving finally surpasses pre-crisis levels

Bequests jump thanks to generous giants including former Buffalo Bills owner Ralph Wilson and the Bill and Melinda Gates Foundation.
JUN 17, 2015
Philanthropy reached a record high last year, finally surpassing the amount donated before the recession depressed Americans' charitable giving. Donations rose 5% in 2014 when adjusted for inflation, to $358.38 billion, just a hair above the pre-recession level of $355.17 billion in 2007, according to the Giving USA 2015 report released Tuesday. Philanthropic giving fell as low as $303 billion in 2009, a year the world was slipping toward global economic crisis and the markets hit bottom.

Source: Giving USA 2015 report

“This 60-year high for total giving is a great story about resilience and perseverance,” said W. Keith Curtis, chairman of the Giving USA Foundation, which publishes the annual giving report. Individuals gave 72% of the total last year, while bequests only represented 8% of donations. Bequests, though, showed the greatest percentage increase last year, jumping 13.6% to $28.13 billion, the report found.

Source: Giving USA 2015 report

That jump was in part because some Goliath U.S. estates were settled in 2014, including $1 billion from former Buffalo Bills owner Ralph Wilson. Mr. Wilson was the second-most generous giver last year, topped only by the Bill and Melinda Gates Foundation, which donated $1.9 billion, according to the Chronicle of Philanthropy.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.