The majority of charitable donations come from individual donors (74 percent). When employment is on the rise, charitable donations tend to increase, too.
Jefferson City, Missouri (PRWEB) August 27, 2015
Bert Doerhoff, CPA, of Aura Wealth Advisors, comments on the findings of the “2015 Mid-Year Report on U.S. Charitable Giving” and how that correlates with the health of the economy. The study is released by The Atlas of Giving, and its results show unexpected increases in donations.
Charitable giving in total for the first half of 2015 is $238.88 billion and represents a 7.6 percent increase in donations for the same period in 2014. While there are many factors that influence charitable giving, the study authors believe that increasing employment rates are the main driver of donations this year.
The majority of charitable donations come from individual donors, with 74 percent of all contributions received from individuals. When employment is on the rise, charitable donations tend to increase, too.
Another notable factor that is driving the current philanthropic environment is the impact of technology on fundraising strategies. Crowdfunding sites and social media make it easier for niche nonprofit organizations to raise money. These groups have historically struggled to effectively broadcast their message to their target audience, but technology has made it possible for their voice to be heard online.
“While crowdfunding and social media have created opportunities for the organizations that use them as fundraising tools, they also assist those wanting to contribute to a worthy cause,” says Doerhoff. “An individual with personal wealth often sets philanthropic goals to gain certain tax benefits, but also to build a legacy and help the causes they care about. This is reflected in many areas, including overall economic health.”
Individuals interested in philanthropic pursuits will benefit from the ability to access online information about an array of foundations and the causes they serve. Before donating a portion of their wealth, donors can examine the objectives of the organization and look at their rating assigned by groups like Charity Navigator, which awards groups based on factors like financial transparency and adherence to certain leadership principles.
A qualified investment advisor can help individuals interested in donating a portion of their personal wealth to a cause. “We understand that our clients want to contribute to the causes they care about and use their wealth to make a difference in the world. Leaving a legacy in this way is a great use of wealth, but choosing how much to donate and the right organization can be a big decision. This is where we provide guidance and insight to the process,” says Doerhoff.
By year-end, the study estimates that giving will reach a total of $482.27 billion, with an overall increase of 5.6 percent over last year’s charitable contributions.
About Bert Doerhoff:
Bert Doerhoff CPA, the founder of Aura Wealth Advisors, is a fee based investment advisor who works with families and small business owners to help them protect and grow wealth for life. He designs comprehensive tailored investment solutions with strategic defensive investment approaches that retain growth potential. Guided by the fiduciary standards he works with clients to build a legacy and deliver ever increasing cash flow in retirement that will protect their lifestyle from the effects of inflation.
Contact Bert Doerhoff, CPA, by email at bdcpa(at)AccuBiz.net; by phone at (573) 634-4006; or learn more at http://www.AuraWealth.com.