The rich keep getting richer. While they are at it, they seem to keep giving, even though it may not be as much.
At least that’s what, A Decade of Million-Dollar Gifts, a new report from the folks at the IUPUI Lilly Family School of Philanthropy, shows.
Among other things, the report found that the number of million-dollar gifts peaked at 2,355 in 2008 and reached its lowest level — 1,092 — in 2003; that the combined value of million-dollar gifts peaked at nearly $61 billion in 2006 (thanks in large part to Warren Buffett’s gift of approximately $33 billion to the Bill and Melinda Gates Foundation); and that, following a three-year decline, the combined dollar value of such gifts reached its lowest point of the decade, roughly $10 billion, in 2010.
The report also identified three patterns in the number and dollar amount of gifts:
most types of recipient organizations saw the highest level in the number and dollar amount of million-dollar-plus gifts either at the beginning of the period (in 2000 or 2001) or in the middle years (2007 or 2008);
giving to most types of recipient organizations experienced a decline from 2001 to 2003, and again from 2008 to 2010, years that bracket the decade’s two recessions; and
giving to most types of recipient organizations rose modestly in 2011, although it was still lower, in inflation-adjusted dollar terms, of the levels seen in 2007.
Find the full report and more here.