Why there’s hope charitable giving will remain strong despite bad economy

Advertisement

BEGIN ARTICLE PREVIEW:

Una Osili and Patrick M. Rooney This month, Giving USA announced that nearly $450 billion was donated in the United States in 2019, setting a new baseline for philanthropy before the pandemic. Amid the wide-ranging turmoil and devastation from the COVID-19 pandemic and racial and social justice protests, there is a tremendous outpouring of generosity.It has been inspiring to see contributions from people of all backgrounds — celebrities, athletes and citizens at all income levels. Philanthropy alone cannot meet the colossal needs caused by COVID-19 and fully address the urgent calls for racial justice. The government and business sectors have significant responsibility. Nevertheless, philanthropy has important roles to play in relief and recovery.To date, the largest publicly announced donation is a pledge by Jack Dorsey, the CEO of Twitter and Square, Inc. His donations have focused on relief efforts to help with the economic and social impact of the pandemic. Michael Jordan and Jordan Brand have pledged $100 million to advance racial equality.  NBA star Stephen Curry and his wife Ayesha are using their platform to raise funds for Feeding America.Virtual concerts have collected millions. U.S. foundations and corporations have given more than $11 billion to efforts to combat COVID-19, based …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE