How Charitable Giving Fared After National Crises
The Chronicle of Philanthropy
Special Report
From the issue dated September 15, 2005
|
HOW CHARITABLE GIVING FARED AFTER NATIONAL CRISES
Political turmoil, military confrontations, and economic turbulence can all affect what types of charities Americans support--but they generally do not cause a drop in the total amount donated to charity, according to a study by the Center on Philanthropy at Indiana University for the Giving USA Foundation.
However, giving did not keep pace with inflation after major economic downturns, such as the 1973 oil embargo, the 1987 stock-market collapse, and the 2001 terrorist attacks.
|
Fall of France (May 1940) |
|
|
Percentage change |
|
1939 |
Gross domestic product |
|
8.1% |
|
Charitable giving |
|
20.2% |
|
1940 |
Gross domestic product |
|
8.5% |
|
Charitable giving |
|
46.8% |
|
1941 |
Gross domestic product |
|
17.1% |
|
Charitable giving |
|
36.3% |
|
Percentage change in stock market |
|
Day before to day after |
-2.2% |
|
|
After 30 days |
-24.5% |
|
|
After 365 days |
-20.9% |
|
|
Pearl Harbor (December 1941) |
|
|
Percentage change |
|
|
|
|
|
|
1940 |
Gross domestic product |
|
8.5% |
|
Charitable giving |
|
46.8% |
|
1941 |
Gross domestic product |
|
17.1% |
|
Charitable giving |
|
36.3% |
|
1942 |
Gross domestic product |
|
18.4% |
|
Charitable giving |
|
46.0% |
|
Percentage change in stock market |
|
Day before to day after |
-3.5% |
|
|
After 30 days |
-3.0% |
|
|
After 365 days |
-0.7% |
|
|
Korean War (June 1950) |
|
|
Percentage change |
|
1949 |
Gross domestic product |
|
8.1% |
|
Charitable giving |
|
20.2% |
|
1950 |
Gross domestic product |
|
8.5% |
|
Charitable giving |
|
46.8% |
|
1951 |
Gross domestic product |
|
17.1% |
|
Charitable giving |
|
36.3% |
|
Percentage change in stock market |
|
Day before to day after |
-4.7% |
|
|
After 30 days |
-8.9% |
|
|
After 365 days |
9.8% |
|
|
John F. Kennedy (November 1963) |
|
|
Percentage change |
|
1962 |
Gross domestic product |
|
6.0% |
|
Charitable giving |
|
1.2% |
|
1963 |
Gross domestic product |
|
4.3% |
|
Charitable giving |
|
11.0% |
|
1964 |
Gross domestic product |
|
5.9% |
|
Charitable giving |
|
3.5% |
|
Percentage change in stock market |
|
Day before to day after |
1.5% |
|
|
After 30 days |
3.8% |
|
|
After 365 days |
20.4% |
|
|
Arab oil embargo (October 1973) |
|
|
Percentage change |
|
1972 |
Gross domestic product |
|
5.4% |
|
Charitable giving |
|
4.3% |
|
1973 |
Gross domestic product |
|
5.8% |
|
Charitable giving |
|
4.7% |
|
1974 |
Gross domestic product |
-0.6% |
|
|
Charitable giving |
|
5.0% |
|
Percentage change in stock market |
|
Day before to day after |
0.1% |
|
|
After 30 days |
-10.9% |
|
|
After 365 days |
-30.9% |
|
|
Nixon resigns (August 1974) |
|
|
Percentage change |
|
1973 |
Gross domestic product |
|