Despite a teetering economy, the nations charitable giving to healthcare organizations continued to grow during 2007, although the rate of growth was only half what it had been the year before, according to a survey.
That slowdown is leading some to wonder whether charitable giving might actually decrease in 2008, as it did in 2002 following the decline in the national economy in 2001, according to statistics from the Association for Healthcare Philanthropy. It was all because of the economy (in 2002), and its taken all this time to get back there again, said association President and Chief Executive Officer Bill McGinly. Were trying to make sure it doesnt happen again.
Figures from the associations annual reports show that annual charitable giving peaked at $8.01 billion in fiscal 2001, then fell to $5.5 billion for 2002, and has increased each year since then. The $8.35 billion total for fiscal 2007 is the first time since 2001 that giving once again surpassed the $8 billion mark.
The associations 24th annual giving report concluded that although giving increased 5.6% over fiscal 2006, that annual growth rate was just half what it had been the year before, when giving increased by 11.5%. McGinly theorized what donors might have been thinking: Im still going to give to you, but Im not going to be as generous. The latest report was based on a survey of 460 healthcare organizations that reported figures based on their respective 2007 fiscal years. -- by Joe Carlson