1. What famous philosopher is considered one of the first philanthropists and estate givers in Western history?
Plato directed that the proceeds from the sale of his family farm be used to support the academy he had created. The birthplace of democracy was the birthplace of philanthropy as we know it today, and the health of our democracy is still very much entwined with the health of philanthropy.
2. In what year did charitable giving in the U.S. reach an all-time high, adjusted for inflation?
It was 2021. If one looks at the subtends in philanthropic giving, one see that is not likely to be surpassed any time soon, notwithstanding the growing number of mega gifts. Even the growing number of eye-popping gifts we’ve seen and will see in the decade ahead will not compensate for the loss in the volume of giving households. The consequences of decades of “dollars up, donors down” will become more painfully apparent to more and more nonprofits, even the storied ones.
3. What percentage of total giving in the U.S. comes from corporations?
Around 5 to 6 percent, which is much less than most boards or bosses realize, and some LinkedIn posters realize. Yes, every source of support should be worked to its fullest but our efforts should be proportionate to opportunities available. Individual giving is by far and way the single greatest philanthropic resource available to us.
4. True or false: Much more is given each year in the U.S. in form of individual bequests than in corporate giving.
True. In 2022, $42 billion came from bequests, while $36 billion came from corporations. The amount coming from bequests and the disparity between corporate giving will increase in the decade ahead – yet most nonprofits will spend more time on corporate giving than estate giving a miss the greatest philanthropic opportunity we will ever see in the form of the Great Wealth Transfer.
Jim Langley is the president of Langley Innovations. Langley Innovations provides a range of services to its clients to help them understand the cultural underpinnings of philanthropy and the psychology of donors and, with that knowledge, to develop the most effective strategies and tactics to build broader and more lasting communities of support. Jim has authored numerous books, including his most recent book, The Future of Fundraising: Adapting to New Philanthropic Realities, published by Academic Impressions in 2020.
