by Richard A. Kauffman
Charitable giving decreased by $308 billion in 2008 and is expected to drop even more this year. However, as Robert J. Samuelson writes, not all sectors suffered: funding is up 42 percent to Feeding America, a group that channels food and cash to food banks. “If you have to choose between giving to the ballet and feeding a hungry child, who’s going to win?” asks a spokesperson for the organization.
A 100-point gain in the S&P 500 stock index increases charitable giving by $1.7 billion.
July 31, 2009
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