Charities in the Ozarks hit by inflation too
SPRINGFIELD, Mo. (KY3) - Charities in 2021 reported a record year for donations, reaching a whopping $485 billion throughout the country.
The increase did not keep up with the rising inflation rate. That $485 billion was an increase of about 4% from the year before. When adjusted for inflation, it dropped by almost 1%.
Charities and nonprofits are concerned about this, despite the lower number of donors this year. With prices for gas, groceries, airfare, and more steadily increasing, people aren’t cutting the same check they were for charities in previous years.
Brian Fogle, President and CEO of the Community Foundation of the Ozarks says that while wealthy donors and foundations are giving more, households have seen a steady decline in donations and participation in charities, giving cause for concern. In a study done during the pandemic, he also added that those who donate to charity fell from 60% to 49% over the last decade. It marked a new low in American history.
Fogle said donating is not the only way to help charities and nonprofits. Nonprofits always need volunteers.
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