FOR IMMEDIATE RELEASE
CONTACT:
Paul D. Daugherty
President and CEO, Philanthropy WV (304) 517-1450
W.Va. Sees $10 Million Drop in Charitable Giving
November 24, 2015
MORGANTOWN, W.Va. — West Virginia has seen a $10 million drop in charitable giving, based on the newest available data in Philanthropy West Virginia’s 2015 State of Philanthropy Report.
The report looks at tax return data released U.S. Internal Revenue Service for tax year 2013, the most recent year for which comprehensive information is available.
While the United States saw an increase in itemized charitable giving by 5.4 percent in 2013, West Virginia reported a decline of about $10.4 million or 2.2 percent from the previous year.
“Even though nationally the country is seeing a recovery from the ‘Great Recession’ of the past several years, West Virginia has a long way to go to recover,” said Paul D. Daugherty, president and CEO of Philanthropy West Virginia, which released the report today. “During this time of economic challenges for the state, we can see the impact on charitable and philanthropic sectors.”
Daugherty said the $10 million decrease in itemized charitable giving shows that West Virginia has a long way to go to return to the amount of giving posted in tax year 2009 ($515.4 million), which was when the recession hit.
Major findings in the new State of Philanthropy Report are:
- All income households except for those in the range of $100,000 to $200,000 saw a decrease incharitable giving from 2012 figures
- By income classes, the giving meets or exceeds national averages in the low- and middle- incomehouseholds, but is below the national average when it comes to high income households.
- From 2005 through 2013, West Virginians donated more than $4.19 billion to charities.“It’s clear the impact of the Great Recession is still preventing a recovery in giving, and the continued decline in population exacerbates this problem” Daugherty said. “West Virginians must rise to the challenge and increase their charitable giving.”At the same time, Daugherty said the state must maintain vital programs such as the West Virginia Neighborhood Investment Program, which makes it possible for low- and middle-income households to double their giving during challenging times.“Private giving is the lifeblood of so many critical efforts and programs in our state that are improving the lives of West Virginia’s citizens and communities,” he said. “This report recognizes the significant need for the West Virginia Neighborhood Investment Program to leverage private giving during this challenging economic times.”
To access the report, CLICK HERE.
About PHILANTHROPY WEST VIRGINIA: Philanthropy West Virginia is the statewide leadership organization for private, family, corporate, and community foundations, giving programs, and other grant-making institutions in West Virginia.