Charitable Giving Passes $300 Billion in 2007


Despite worries about the economy, last year donations to public charities exceeded $300 billion for the first time.

A report from the Giving USA Foundation estimates charitable giving reached $306.4 billion last year, an increase of 3.9% from the previous year (though only a 1% increase when adjusted for inflation). Every type of public charity saw an increase in donations—the first across-the-board increase since 2001.

The foundation attributes the increase in 2007 to stock market performance in the first half of the year and increases in corporate and personal income.

Source: Giving USA 2008, www.givingusa.org.

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.