Americans Donated Record Amount In 2014

Alex Pfeiffer White House Correspondent
Font Size:

According to an annual report by Giving USA Foundation, 2014 was a record year for American donations to charitable organizations.

Americans donated $358 billion last year, a 7.1 percent increase from 2013, and $47 billion more than pre-recession levels in 2007.

“We have had a phenomenal increase in donations over the last four years,” said John Enzler, D.C.-area president and CEO of Catholic Charities. Donations to his organization have increased from $2 million up to $10 million.

Religious organizations are still the largest recipient of all U.S donations, getting 32 percent. It was previously at an all time high of 53 percent of all donations in 1987.

Much of the rise in donations can be attributed to companies rebounding from the recession, with a 12 percent increase in corporate giving.

Elizabeth Boris of the Urban Institute told CBS,”Corporations are doing quite well, so it’s about time.”

Another reason is confidence in the economy,”when people feel good about the economy they give,” said Keith Curtis of Giving USA to NPR.

Not all charities are sound, however. In May, the FTC filed a civil suit that named four cancer organizations that were considered a “sham,” for the purpose of making their owners wealthy.

Tags : charity
Alex Pfeiffer