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Contributions back up following recession's plummet.

After a two-year drop in charitable contributions brought on by the Great Recession, donations from individuals, corporations and foundations have rebounded according to Giving USA Foundation, an organization that tracks philanthropy through research and education.

The largest decreases in more than 40 years occurred in 2008 and 2009, the foundation noted. However, in 2010, charitable contributions were an estimated $290.89 billion, up from $280.30 billion in 2009.

Total giving grew by 2.1% in 2010 after adjusting for inflation following a combined drop of more than 13% in 2008 and 2009. Despite that gain, the foundation said that many nonprofits are still hurting, and if giving continues to grow at that rate, it will take five to six more years just to return to the level of giving seen before the Great Recession.
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Title Annotation:FOCUSREPORT/Charitable Giving
Publication:Credit Union Times
Date:Dec 14, 2011
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