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Charitable Giving for 2006 Hits Record High in America

June 25, 2007

Donations to charitable causes almost reached $300 billion in 2006, according to Giving USA. Giving by individuals rose by a real 1.2% to an estimated $222.89 billion, or 75.6% of all giving. However, charitable bequests, gifts left through wills, fell by a real 5.1%. The drop was partly explained because there were no giant bequests in 2006 like there were in 2005. In 2005 the McDonald's heiress Joan Kroc, John Walton of the Wal-Mart chain, and Warren Buffett's first wife, Susan, all died.

In 2006, grantmaking from the Long Island Community Foundation, including competitive grants and grant suggestions from donors with philanthropic funds in the Foundation, $7,455,350.