The Great Recession impacted nonprofits in a number of ways, no more so than donor-advised contributions. According to a new report, recovery on that front is underway.
The NonProfit Times reported yesterday that The National Philanthropic Trust released its annual Donor-Advised Fund Report and it contained some great news. According to the report, contributions to donor-advised funds increased by 25.5 percent in 2010, to a total of $7.7 billion. Total assets from these funds accounted for $29.96 billion, which was a 12.3-percent increase over the $26.67 billion in 2009. It was also closer to the pre-recession high of $30.2 billion.
The numbers look much better than they did during the height of the recession, from 2007-2009. While the Dow Jones Industrial Average fell sharply from 2007-2009, it didn't affect donor-advised funds until 2008 and 2009. There were some declines noted in the report. For instance, the number of donor-advised funds decreased about 0.05 percent from 161,967 in 2009 to 161,873 last year. A slight decline, but a decline nonetheless. On the bright side, the average size of the funds exceeded $185,000, marking a sharp recovery from the $164,663 average in 2009. It still remained lower than the $192,547 average in 2008 and $202,851 in 2007.
To read more on this story, check out NPT's website.