That's the forecast from a recent recent report by Indiana University's Lilly Family School of Philanthropy. According to the report, charitable giving is expected to grow by nearly 5% per year in 2015 and again in 2016.
Entitled "The Philanthropy Outlook", the report was presented by Marts & Lundy, a leading fundraising and philanthropy consulting firm.
According to Marts & Lundy, the report "predicts changes in year-to-year growth rates for philanthropic giving for the years 2015 and 2016, including overall U.S. giving and giving by individuals/ households, foundations, estates and corporations."
Other important findings from "The Philanthropy Outlook" report include:
The forecast outlines a significant projected year-over-year increase in charitable donations. During and immediately following the Great Recession, charitable giving hovered around a measly 3%. However, as the overall U.S. economy improved, so has charitable giving.
Nonprofit donations are a significant force in the American economy. According to Charity Navigator, charitable giving topped $335 billion in 2013. (Yes, that's billion with a "B".) This means that charitable donations now make up 2% of the entire United States gross domestic product (GDP).
How can your nonprofit take advantage of the predicted influx of donations? By ensuring that your organization is ready to make the most of charitable gifts.
Donations are coming. Is your nonprofit ready?