“I think as those green shoots begin to appear in different markets and as some confidence begins to come back that will begin the positive dynamic that brings our economy back.” —Ben Bernanke, chairman of the Federal Reserve, interviewed by 60 Minutes, March 15, 2009
Bernanke was a couple of years too early to see growth in charitable giving, but things have begun to turn the corner and the green shoots are showing.
According to the Nonprofit Research Collaborative, for the first time since 2007 more than half (53 percent) of charitable organizations reported growth in charitable giving. However, giving has not recovered to 2006 levels, when the survey reported that 69 percent of nonprofits saw growth.
The semi-annual survey included more than 1,600 organizations and was made up of nonprofits from various sizes and subsectors of the nonprofit world. Although many nonprofit organizations in an earlier survey reported continued financial difficulties, there were no significant differences in growth by region of the country.
Nearly 60 percent of the organizations met their fundraising goals in 2011; 71 percent expect to raise more this year.
See all survey results at: bit.ly/nrcsurvey.