Charitable gifts drop, first time in 12 years

Christian Century, Nov 15, 2003

Donations to the nation's largest charities dropped in 2002, a first in 12 years, reports the Chronicle of Philanthropy. Contributions decreased 1.2 percent, compared to an average annual increase of 12 percent in the previous five years, the newspaper said.

The publication's 12th annual "Philanthropy 400" ranks the nation's largest nonprofits based on how much money they raise from private sources. Total gifts amounted to $46.9 billion, down from $47.5 billion the previous year. The American Red Cross ranked number one, forcing the Salvation Army into the second spot. The Army had previously ranked first throughout the survey's history.

The Red Cross received $1.74 billion, an increase of 161 percent from the 2001 fiscal year. The newspaper said money collected in connection with the September 11, 2001, terrorist attacks boosted fund raising for several groups, including the Red Cross.

The other top ten charities were: 3) Gilts in Kind International; 4) American Cancer Society; 5) Fidelity Investment Charitable Gift Fund; 6) Lutheran Services in America; 7) YMCA of the USA; 8) Nature Conservancy; 9) University of Southern California; 10) Feed the Children. The newspaper attributed the overall decline in giving to uncertainties about the economy and increased competition for money among charities.--RNS