When it Comes to Charity, Who Gives the Most?
This sector is a crucial contributor to the health and welfare of the country. Who fuels it?
The charitable sector of the United States economy
contributes about 6% of gross domestic product this year – surpassing the
national defense sector in size as far back as 1993. Karl Zinsmeister of the
Philanthropy Roundtable points out that this sector is a crucial contributor to
the health and welfare of the country, and is fueled by the generosity of
private citizens. “Only 14% of charitable giving in our country comes from
foundations, and only 5% from corporations. The rest comes from individuals and
the bulk of it comes from small givers at an average rate of about $2,500 per
household per year… Total private philanthropic aid sent overseas exceeds the
foreign aid budget of the U.S. government, the latest totals are about $39
billion to $31 billion, respectively.”