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Researched and Written by
CCS
CCS, a leading global fundraising consulting and management firm, provides fundraising, development
services and strategic consulting to non-profit organizations worldwide. With offices throughout North
America and in London and Dublin, CCS designs successful and sustainable development initiatives for
organizations across every non-profit sector. Founded in 1947, the firm is wholly owned by its partners and
retains the largest and most experienced permanent staff in the industry. To learn more, visit
www.ccsfundraising.com.
In 2007, CCS established the William B. Hanrahan Fellowship in recognition of William B. Hanrahan’s
contributions to the field and CCS’s commitment to shaping future leadership within the fundraising
profession. Today the fellowship pays tribute to the firm’s late president and CEO, and supports research
undertaken by doctoral students in Philanthropic Studies at Indiana University Lilly Family School of
Philanthropy.
Indiana University Lilly Family School of Philanthropy
The Indiana University Lilly Family School of Philanthropy is dedicated to improving philanthropy by
educating and empowering students, professionals and volunteers to be innovators and leaders who create
positive and lasting change in the world. The first of its kind in the world, the School offers a comprehensive
approach to philanthropy — voluntary action for the public good — through its academic, research and
international programs and through The Fund Raising School, Women’s Philanthropy Institute and Lake
Institute on Faith & Giving. Learn more at www.philanthropy.iupui.edu.
“Improving Philanthropy to Improve the World”
The Lilly Family School of Philanthropy Project Team
Una Osili, Ph.D., Director of Research
Xiaonan Kou, Project Coordinator
Jacqueline Ackerman, Project Coordinator
Jason Ward, Former Project Coordinator
Michael Copple, Former Statistician
Adriene Davis Kalugyer, Manager of Public Affairs
Meg Ban, Assistant Manager of Marketing & Communications
Cynthia Hyatte, Administrative Assistant
Yannan Li, Research Assistant
Heng Qu, Research Assistant
Aeshvarya Verma, Graduate Assistant
Stephen Carnagua, Graduate Assistant
With special thanks to:
Linda Cameron, Caitlin Copple, Lindsey Humes, Faön Mahunik,
Philip Purcell, Timothy Seiler, and Nicole Thigpen
for their review and comments.
© 2013 The Indiana University Lilly Family School of Philanthropy.
All rights reserved.
Table of Contents
Introduction ................................................................................................................................... 1
Key Findings .................................................................................................................................. 3
Key Implications for Donors and Practitioners ......................................................................... 7
I. Brief Overview of the Million Dollar List ............................................................................. 8
II. Snapshot of Million-Dollar-Plus Giving, 2000–2011............................................................ 9
Overall Trends in Million-Dollar-Plus Gifts, 2000–2011......................................................... 9
Who Gave Million-Dollar-Plus Gifts, 2000–2011.................................................................. 11
Who Received Million-Dollar-Plus Gifts, 2000–2011 ........................................................... 12
III. Million-Dollar-Plus Gifts by Type of Recipient Organization, 2000–2011 ...................... 15
Gifts to Higher Educational Institutions ................................................................................. 15
Gifts to Other Educational Institutions ................................................................................... 18
Gifts to Arts, Culture, and Humanities Organizations ............................................................ 21
Gifts to Environmental Organizations .................................................................................... 24
Gifts to Foundations ................................................................................................................ 27
Gifts to Health Organizations ................................................................................................. 30
Gifts to Human Services Organizations .................................................................................. 33
Gifts to Public-Society Benefit Organizations ........................................................................ 36
Gifts to Religious Organizations............................................................................................. 39
Gifts to International Organizations........................................................................................ 42
Gifts to U.S. Government Institutions .................................................................................... 46
Gifts to Overseas Organizations ............................................................................................. 49
IV. Methodology .......................................................................................................................... 51
Introduction
Charitable donations of $1 million or more attract significant media and public attention, due to
the substantial potential that such gifts have to drive social and economic change in communities
locally and globally. However, knowledge about these major gifts mostly relies on anecdotal
evidence, which offers little information about the overall picture of such gifts. For instance, how
did these major gifts change during the past decade? Do different types of donors behave
similarly, or differently, in response to the economy? Which types of charitable causes receive
more attention from major donors? This report seeks to shed light on these important questions
by analyzing publicly announced million-dollar-plus gifts from all sources (individuals,
foundations, corporations, bequests, and other nonprofit groups) made between 2000 and 2011.
The main focus of this report is to analyze million-dollar-plus gifts by type of recipient
organization.
The report begins with an overview of million-dollar-plus gifts made from 2000 to 2011, with a
brief discussion of the source and distribution of these donations. Next, the report offers an indepth examination of gifts made to different types of organizations. For each type of recipient
organization, the report includes the following key sections:
1. Trends in million-dollar-plus gifts from 2000 to 2011;
2. Million-dollar-plus gifts by type of donor;
3. Impact of macroeconomic factors; and
4. Geographic distribution of gifts.
Section 1 discusses changes in the number and dollar amount of gifts over time. Section 2
focuses on the sources of gifts and the yearly fluctuations in giving from each source. Section 3
explores how million-dollar-plus gifts responded to changes in the economic climate between
2000 and 2011. This period witnessed both economic growth and downturns. In particular, the
two recessions — from March to November 2001 and from December 2007 to June 2009 —
significantly influenced charitable giving at all levels. In this report, the impact of five major
macroeconomic indicators is analyzed separately in statistical regressions. These factors are the
Standard & Poor’s 500 Index (S&P 500), gross domestic product (GDP) of the U.S., personal
consumption expenditures, unemployment rate, and recession. 1 All of these factors have been
found in previous research to be important predictors of charitable giving. This analysis used the
number of gifts, not the dollar value of gifts, because the trends in the dollar value tend to be
greatly driven by a few very large donations and may not accurately reflect the impact of the
economy on million-dollar-plus giving. Yearly and quarterly variation is also controlled in the
analysis.
Section 4 highlights the geographic distribution of gifts: the share of gifts staying within the
donor’s home state or geographic region (i.e. Northeast, Midwest, South, and West). For three
types of recipient organizations — U.S.-based international organizations, U.S. government
1
For explanations of these five macroeconomic variables, please refer to the Methodology section.
1
institutions, and overseas organizations, this report also examines charitable causes supported by
gifts made to these organizations.
This report analyzes 20,941gifts totaling $271 billion made between 2000 and 2011. (All dollar
figures are adjusted for inflation to 2011 values.) It uses data from the Million Dollar List
(MDL), a large database of charitable gifts at the million-dollar level and above. Only publicly
announced gifts on the MDL made between 2000 and 2011 are included in the analysis, so gifts
made by individuals and organizations that did not release public announcements are not
captured in the report. In the MDL database, such gifts made by foundations and other nonprofit
organizations are often captured using information from organizations’ annual tax returns.
However, because tax returns do not specify the quarter in which the gifts were made, these gifts
are excluded from the analysis here in order to present a more accurate picture of the trends in
million-dollar-plus giving between 2000 and 2011. This exclusion also allows us to examine how
giving at this level is affected by economic changes on a quarterly basis.
It is important to note that a small share of gifts included in the analysis do not contain
information on the geographic location of the donor or the recipient. Among the total of 20,941
gifts analyzed in this report, less than 4 percent went to foreign organizations, and about 4
percent did not publicize the donor’s information. Excluding these anonymous gifts and gifts
flowing outside of the U.S., only 3 percent of gifts (600) made to U.S. organizations did not
contain the geographic information of the donor or the recipient. These gifts with missing
geographic information, totaling $5.8 billion, largely went to higher educational institutions and
human services organizations.
2
Key Findings
The period between 2000 and 2011 saw dramatic fluctuations in the number and dollar amount
of publicly announced million-dollar-plus gifts. The number of gifts peaked at 2,355 gifts in
2008 and reached its lowest level at 1,092 gifts in 2003. In 2006, giving reached the highest
value over the entire period at nearly $61 billion. However, this peak was largely attributed to a
single gift of approximately $33 billion made to a foundation. Then, following a three-year
decline, giving reached its lowest dollar value in 2010 at around $10 billion.
Among the 12 different types of recipient organizations, higher educational institutions and
foundations were the top two recipients. Approximately 48 percent of gifts (10,073), totaling $86
billion (around 32 percent of the total dollar amount), went to higher educational institutions. A
total of $97 billion (nearly 36 percent) from just 235 gifts (about 1 percent) went to foundations.
None of the other types of organizations received more than 10 percent of the gifts during the
period between 2000 and 2011.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Between 2000 and 2011, million-dollar-plus giving exhibited different profiles across various
types of recipient organizations. Nevertheless, three consistent patterns emerge from the
analysis:
•
Most types of recipient organizations saw the highest level in the number and dollar
amount of million-dollar-plus gifts either at the beginning of the period (in 2000 or 2001)
or in the middle years (2007 or 2008).
•
Giving to most types of recipient organizations experienced a decline, or a relatively low
level, from 2001 to 2003, and again from 2008 to 2010, suggesting a negative impact of
the two economic downturns on charitable giving at the million-dollar level and above.
•
The year 2011 witnessed a modest increase in giving to most types of recipient
organizations. Although giving did not fully recover to the dollar amounts seen prior to
2007, this growth sent a hopeful sign of recovery in charitable donations at the milliondollar level and above.
Gifts by Type of Donor
Individuals and foundations are the primary sources of publicly announced million-dollar-plus
gifts. During the period from 2000 to 2011, individuals contributed the largest share of gifts, as
the combined number of inter vivo and planned gifts accounted for 40 percent of all gifts (8,356
gifts), and 65 percent of the total dollar amount ($176 billion). In particular, individual (inter
vivo) gifts alone reached $137 billion from 7,092 gifts in total. Individuals were the primary
source of million-dollar-plus gifts made to higher educational institutions and foundations.
Charitable bequests contributed less than 1,300 gifts totaling $39 billion, the third highest dollar
value among all donor types. Planned giving represented approximately 20 percent of the dollar
value of gifts made to four types of recipient organizations. However, it was a very small source
3
of million-dollar-plus gifts made to six types of recipient organizations, ranging from 1 to 7
percent of giving.
Foundations made the highest number of gifts among all donor types, at 8,984 gifts with a total
of $68 billion. Foundations were the most significant source of million-dollar-plus gifts made to
six different types of recipient organizations, accounting for at least half of gifts to each type of
organization.
Corporations and corporate foundations contributed approximately 3,000 gifts totaling $20
billion. Compared with individuals and foundations, corporations were responsible for a
relatively small share of million-dollar-plus gifts made to most types of recipient organizations,
ranging from 6 to 23 percent. A particular exception is corporate giving to human services
organizations, representing about 42 percent of the number of gifts, and 29 percent of the dollar
amount.
During the 12-year period, other grant-making nonprofit organizations granted nearly 600
million-dollar-plus gifts totaling $6 billion. This source took up the smallest share (less than 7
percent) of the number and dollar amount of gifts to all types of recipient organizations.
Impact of Macroeconomic Factors on the Number of Gifts
This report examines the impact of the economy on publicly announced million-dollar-plus gifts
from individuals, foundations, and corporations, respectively. For most types of recipient
organizations, individual donations appear to be more responsive than foundation and corporate
gifts to the economic climate. All five of the macroeconomic indicators analyzed in the report —
the Standard & Poor’s 500 Index (S&P 500), gross domestic product (GDP), personal
consumption expenditures, unemployment rate, and recession — showed a significant correlation
with the number of individual gifts made to various types of recipient organizations. 2
Publicly announced million-dollar-plus gifts by individuals to the following five types of
organizations are particularly sensitive to changes in these indicators:
•
Higher educational institutions;
•
Other educational organizations;
•
Arts, culture, and humanities organizations;
•
Environmental organizations; and
•
International organizations.
The S&P 500, GDP, and personal consumption are positively associated with individual giving
to these five types of organizations. The unemployment rate is negatively correlated with
2
A statistically significant correlation is a statistical term used to describe the relationship between two
variables that is unlikely to exist by chance. A statistically significant positive correlation between two
variables means that when one variable increases, the other variable also tends to increase, and vice
versa. A statistically significant negative correlation exists when one variable increases, the other
variable tends to decrease, and vice versa.
4
individual gifts made to all of these organizations except environmental organizations. The
current recession quarter is negatively linked to individual gifts made to environmental
organizations.
Among the five macroeconomic indicators analyzed, recession shows the strongest correlation
with the changes in the number of foundation gifts, as a positive, significant relationship between
these two is observed for four types of recipient organizations, including:
•
International organizations;
•
Other educational institutions;
•
Arts, culture, and humanities organizations; and
•
Public-society benefit organizations.
By contrast, S&P 500 is negatively associated with foundation gifts made to other educational
institutions only. Further, GDP is positively related to foundation gifts made to international
organizations only.
Of million-dollar-plus gifts from foundations, those made to international organizations are the
most responsive to economic changes, with significant correlations with four of the
macroeconomic indicators analyzed: GDP, personal consumption, unemployment rate, and
recession.
Corporate giving at the million-dollar level and above is largely unaffected by the fluctuations in
macroeconomic indicators. Changes in these gifts are linked more closely to the changes in GDP
than the changes in the other four macroeconomic factors analyzed. Corporate gifts made to arts
and public-society benefit organizations are the most responsive to the economic climate, as
these gifts show a significant relationship with three indicators.
In general, million-dollar-plus giving to arts and environmental organizations is most responsive
to changes in macroeconomic conditions; whereas million-dollar-plus giving to health and
human services organizations shows the least sensitivity to variations in the economy.
Geographic Distribution of Gifts
Local donors (from the same state or geographic region) contributed a significant share of
publicly announced million-dollar-plus gifts between 2000 and 2011. Roughly half of such gifts
(47 percent of the number and 52 percent of the dollar value) came from donors in the same
state, and about 60 percent came from donors in the same geographic region.
Particularly, five types of organizations received at least half of their gifts from donors in the
same state and approximately two-thirds of their gifts from donors in the same geographic
region. These recipient organizations include:
•
Health organizations;
•
Arts, culture, and humanities organizations;
5
•
Foundations;
•
Higher educational institutions; and
•
Government agencies.
By contrast, international and human services organizations tended to receive a majority of
million-dollar-plus gifts from non-local donors.
•
Less than one-third of gifts at this level to U.S.-based international organizations were
given by donors within the donor’s same state, and a slightly larger portion came from
donors within the same geographic region.
•
Only one-third of such gifts made to human services organizations were given by donors
in the same state, and less than half of gifts were from donors in the same region.
Compared with other types of donors, charitable bequests of $1 million or more were more likely
to go to local nonprofit organizations. In particular, over 90 percent of bequests made to
foundations came from local donors (in the same state or geographic region), and more than 80
percent of bequests made to public-society benefit organizations came from local donors.
6
Key Implications for Donors and Practitioners
The findings of this report suggest the following key implications for donors, nonprofit
organizations, and practitioners.
Leveraging Resources to Transform Communities
Today, more and more donors seek greater involvement with the causes and nonprofits they care
about. Donors are looking for new ways of giving to drive social and economic changes in
communities. Keeping abreast with the trends in major giving can help donors leverage resources
with their peers who share similar philanthropic passion to achieve greater impact in
transforming local communities.
Power of Individual Gifts
Individual giving represented the largest share in the dollar value of publicly announced gifts at
the million-dollar level and above made between 2000 and 2011. This finding confirms the
importance of individual donor cultivation and stewardship in attracting major gifts. Moreover,
charitable bequests constitute an important source of million-dollar-plus gifts especially for
several types of organizations. The value of planned gifts cannot be neglected.
Broad Distribution of Gifts
Although higher educational institutions and foundations received a large portion of milliondollar-plus gifts, the remaining gifts are relatively equally distributed among many other types of
organizations. Even for organizations that do not receive a large share of million-dollar-plus
gifts, the large donations that they do receive are a significant source of their annual income.
Organizations in any subsector may attract major gifts.
Impact of the Economy
The findings reveal a close correlation between million-dollar-plus giving and the economic
climate. In particular, individual gifts are rather sensitive to the economic fluctuations. When the
economy improves or declines, individual million-dollar-plus giving often follows suit.
Organizations that rely primarily on individual major donors can benefit from close attention to
economic trends. In particular, many types of organizations saw an increase in million-dollarplus gifts received in 2011. This upturn suggests that these organizations may take advantage of
economic growth to solicit major donors with renewed effort.
Value of Local Donors
A significant share of million-dollar-plus gifts came from local donors in the same state or the
same geographic region. This finding reminds nonprofit organizations that when developing
fundraising strategies for local communities, cultivating prospective major donors and attracting
small donations are both essential.
7
I. Brief Overview of the Million Dollar List
Managed by the Indiana University Lilly Family School of Philanthropy (School), the Million
Dollar List (MDL) is the largest publicly accessible database of charitable gifts of $1 million or
more made by individuals, foundations, corporations, and other grant-making nonprofit
organizations in the U.S. since 2000 (see www.milliondollarlist.org). The purposes of this
project are to enhance knowledge about giving at scale and to make this knowledge transparent
and widely accessible. Data on the MDL provide all parties with a better sense of the landscape
of high-level philanthropy while serving as an informative and inspirational tool for donors,
nonprofits, researchers, and the public. Since its release in October of 2011, the MDL has offered
key insights into trends at the highest levels of philanthropic activity, as well as trends in giving
compared to economic conditions and the business cycle.
Data collection for the original MDL began in 1963 with the work of Arthur C. Frantzreb, a
nationally renowned philanthropy advisor, who kept a record of qualifying gifts for more than 33
years. The MDL currently contains information on more than 68,000 gifts, and is updated on an
ongoing basis. It provides detailed, gift-level data on charitable giving at the million-dollar level
and above, including donor type and characteristics, amounts given, type and location of
recipient organization, and additional descriptive information for each gift when available. Data
for the list come from self-reports by individuals and organizations, media reports, tax records,
and other publicly available sources researched by the School.
The MDL classifies recipient organizations into 13 categories, based on the National Taxonomy
of Exempt Entities-Core Codes (NTEE-CC). For each gift, the mission of the recipient
organization, rather than the specific cause supported by each gift, is used to categorize the type
of the recipient organization. These categories are listed below. A detailed explanation of
organizations included in each category can be found in the Methodology section of this report.
• Arts, culture, and humanities
• Education (excluding post-secondary education)
• Environment
• Foundations (including corporate, independent, and operating foundations)
• Government
• Health
• Higher education (including colleges and universities, as well as their associated
nonprofits, such as hospitals and research centers)
• Human services
• International affairs (including U.S.-based organizations operating primarily outside the
U.S.)
• Overseas (including organizations headquartered outside the U.S.)
• Public-society benefit (including community foundations, and organizations that focus on
community improvement or benefit the society in large)
• Religion
• Various (a single donation made to more than one organization)
8
II. Snapshot of Million-Dollar-Plus Giving, 2000–2011
This section of the report begins with the yearly and quarterly trends in million-dollar-plus
giving, and then presents the overall distribution of gifts by type of donor and by type of
recipient organization.
Overall Trends in Million-Dollar-Plus Gifts, 2000–2011
As shown in Figure 1, the period between 2000 and 2011 saw dramatic ups and downs in the
dollar value of million-dollar-plus gifts from all sources. Following the economic recession from
March to November in 2001, million-dollar-plus giving declined dramatically from the
approximate $30 billion level in the years 2000 and 2001 to $10.6 billion in 2003. It then reached
its highest dollar value over the 12-year period at $60.7 billion in 2006, but, if the single gift of
$33.47 billion ($30 billion in 2006 dollars) is excluded, then the total amount is approximately
$27 billion, still lower than the $30 billion level realized at the beginning of the period.
Influenced by the 18-month recession that began in December 2007, million-dollar-plus giving
fell again by 63 percent from $26.7 billion in 2007 to $9.9 billion in 2010, the lowest value over
the entire period. In 2011, giving went up to nearly $17 billion, suggesting a hopeful sign of
recovery in giving at the million-dollar level and above.
Figure 1: Dollar amount of million-dollar-plus gifts from all sources, 2000–2011 by year
(in billions of inflation-adjusted 2011 dollars)
2006
$60.70
2000
$29.90
2001
$30.20
2002
$15.70
2003
$10.60
2004
$19.30
2006
$27.23
2005
$15.30
2007
$26.70
2008
$22.60
2009
$13.50
2010
$9.90
2011
$16.80
Note: The light blue bubble for 2006 represents the dollar amount excluding the single gift of $33.47 billion
made in that year ($30 billion in 2006 dollars).
9
Figure 2 presents the quarterly fluctuations in the number of million-dollar-plus gifts from 2000
to 2011. The trend roughly matches the changes of the stock market, as measured by the
Standard & Poor’s 500 Index (S&P 500). Although the number of gifts varied over time, it
tended to fluctuate with the S&P 500 in general. Both experienced declines in the economic
downturns and remained low for several quarters.
Figure 2: Number of million-dollar-plus gifts from all sources graphed with the Standard &
Poor’s 500 Index, 2000–2011 by quarter (in inflation-adjusted 2011 dollars)
Number of Gifts
Standard & Poor’s 500 Index
2,000
750
1,500
500
1,000
250
500
0
Note: Gray bars represent quarters with at least one month of recession.
10
2011q3
2011q1
2010q3
2010q1
2009q3
2009q1
2008q3
2008q1
2007q3
2007q1
2006q3
2006q1
2005q3
2005q1
2004q3
2004q1
2003q3
2003q1
2002q3
2002q1
2001q3
2001q1
2000q3
2000q1
0
Standard & Poor’s 500 Index
Number of Gifts
1000
Who Gave Million-Dollar-Plus Gifts, 2000–2011
The MDL database categorizes donors into five types: individuals (inter vivo gifts), bequests
(also often called planned gifts), foundations, corporations and corporate foundations, and other
grant-making nonprofit organizations. Figure 3 presents the source of million-dollar-plus giving
from 2000 to 2011.
Of these publicly announced gifts, the largest share came from individuals, as the combined
number of inter vivo and planned gifts reached 8,356 (40 percent), with a total of $176 billion
(65 percent). In particular, individual inter vivo gifts alone reached $137 billion. Bequests
consisted of less than 1,300 gifts, but they totaled the third highest value at $39 billion.
Over this 12-year period, foundations made a total of 8,984 gifts ($68 billion), the highest
number among all five types of donors. Corporations and corporate foundations made over
3,000 gifts, totaling $20 billion. Not surprisingly, other nonprofits contributed the smallest share
of gifts at this level (597 gifts totaling $6 billion).
Figure 3: Who gave million-dollar-plus gifts, 2000–2011 (in billions of inflation-adjusted 2011
dollars)
Number of Gifts
10,000
Foundations
8,984, $68
9,000
8,000
Individuals
7,092, $137
7,000
6,000
5,000
4,000
Corporations
and
Corporate
Foundations
3,004, $20
3,000
2,000
Bequests
1,264, $39
1,000
Other
Groups
597, $6
0
Note: Y-axis represents the number of gifts made by each type of donor.
Bubble size represents the dollar amount of gifts from each type of donor.
11
Who Received Million-Dollar-Plus Gifts, 2000–2011
Figure 4 illustrates the distribution of million-dollar-plus giving to different types of recipient
organizations from 2000 to 2011. The MDL database categorizes recipient organizations into 13
categories, based on the National Taxonomy of Exempt Entities-Core Codes (NTEE-CC). All
foreign organizations are grouped into the “overseas” category, and all U.S.-based organizations
are further classified into 11 different types according to the organization’s mission. An
additional category — “various” — represents cases in which more than one organization
received a single gift. A detailed explanation of organizations included in each category can be
found in the Methodology section.
In the analysis, a total of more than 7,400 organizations received publicly announced milliondollar-plus gifts between 2000 and 2011. As shown in Figure 4-A, U.S. higher educational
institutions ranked far ahead of all other recipient organizations when looking at the number of
gifts received over this period. Organizations in this subsector received more than 10,000 gifts,
accounting for 48 percent of all gifts (see Table 1). When looking at the dollar value of milliondollar-plus gifts, represented by the size of the bubbles in the graphs, foundations and higher
educational institutions were the top two recipients, receiving $97 billion (nearly 36 percent) and
$86 billion (about 32 percent), respectively.
Figure 4-B shows a closer look at the distribution of gifts to organizations other than higher
educational institutions. Measuring by the number of gifts received, these organizations fall into
three clusters:
•
In the top cluster are organizations in five subsectors — public-society benefit; health;
human services; arts, culture and humanities; and other educational institutions. These
types of organizations each received between 1,000 and 2,000 gifts in total over the 12year period, each accounting for 3 to 6 percent of the total dollar amount of all gifts.
•
The second cluster contains overseas, U.S.-based international, and environmental
organizations. Each of them received between 500 and 1,000 gifts during this period,
representing 1 to 4 percent of the total dollar amount of all gifts.
•
Foundations received only 235 gifts (about 1 percent of all gifts), but the gifts had a
combined value of $97 billion. Other organizations falling in the bottom cluster are U.S.
government agencies, religious organizations, and organizations in the “various”
category. These three types of organizations received both fewer gifts (each less than 300
gifts) and smaller total amounts (each accounting for less than 1 percent of the total dollar
value of all gifts).
12
Figure 4: Who received million-dollar-plus gifts, 2000–2011 (in billions of inflation-adjusted
2011 dollars)
4-A: All types of recipient organizations
-
Number of Gifts
11,000
10,500
9,000
8,500
7,500
1,300
6,000
5,000
900
4,500
800
3,000
700
Overseas
600
International
Environment
2,500
500
2,000
400
1,500
1,000
500
0
-500
Education (Other)
1,100
1,000
3,500
Arts, Culture & Humanities
1,200
5,500
4,000
Human Services
1,500
1,400
6,500
Health
1,600
8,000
7,000
Public-Society
Benefit
1,700
Higher
Education
+
Number of Gifts
1,900
1,800
10,000
9,500
4-B: Excluding higher educational institutions
300
Foundations
Government
Religion
Various
200
100
0
Note: Y-axis represents the number of gifts made to each type of recipient organization.
Bubble size represents the dollar amount of gifts made to each type of organization.
13
Table 1: Number and dollar amount of million-dollar-plus gifts by type of recipient organization,
2000–2011 (in billions of inflation-adjusted 2011 dollars)
Type of
Recipient Organization
Higher Education
Number
(% of Total)
10,073 (48.1%)
Dollar Amount
(% of Total)
$86 (31.7%)
Public-Society Benefit
1,780
(8.5%)
$11
(4.1%)
Health
1,670
(8.0%)
$15
(5.7%)
Human Services
Arts, Culture, and
Humanities
Education (Other)
1,654
(7.9%)
$9
(3.2%)
1,613
(7.7%)
$15
(5.7%)
1,482
(7.1%)
$11
(4.1%)
Overseas
718
(3.4%)
$10
(3.7%)
International
615
(2.9%)
$8
(2.8%)
Environment
584
(2.8%)
$4
(1.3%)
Foundations
235
(1.1%)
Government
231
(1.1%)
$2
(0.8%)
Religion
165
(0.8%)
$1
(0.5%)
Various
121
(0.6%)
$2
(0.8%)
$97 (35.7%)
Although million-dollar-plus giving by overseas donors is beyond the scope of this report,
nonprofit organizations in some subsectors have been actively seeking out major gifts from
donors outside of the U.S. This strategy has been particularly successful for some higher
educational institutions and certain internationally focused foundations. Among the 229 publicly
announced gifts from overseas donors tracked on the MDL between 2000 and 2010, around 46
percent went to higher educational institutions, representing 52 percent of the total dollar value.
Foundations received the highest average gift amount from non-U.S. donors, accounting for 17
percent of the dollar value of all gifts from overseas.
14
III. Million-Dollar-Plus Gifts by Type of Recipient Organization, 2000–2011
This section examines trends over time in million-dollar-plus giving by type of recipient
organization. For giving to each type of recipient, the report further analyzes different types of
donors, geographic distribution of gifts, and the impact of five major macroeconomic indicators
— the Standard & Poor’s 500 Index (S&P 500), gross domestic product (GDP), personal
consumption expenditures, unemployment rate, and recession. Only key findings are included in
this section; additional graphs and tables can be found in the separate Appendix document.
Gifts to Higher Educational Institutions
On the MDL, institutions of higher education are separate from other educational organizations.
Higher education includes colleges, universities, and organizations that are affiliated with
universities, such as research institutes, medical research centers, and hospitals. More than 1,600
higher educational institutions received publicly announced million-dollar-plus gifts between
2000 and 2011, representing 22 percent of all recipient organizations in the analysis.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Figure 5: Million-dollar-plus gifts made to higher educational institutions, 2000–2011 (in billions
of inflation-adjusted 2011 dollars)
Number of Gifts
2000
929
2001
1,002
2002
777
2003
571
1999
2000
2001
2002
2006
903
2005
879
2003
2007
1,020
2008
1,079
2004
675
2004
2009
674
2005
2006
2007
2008
2009
2010
763
2011
801
2010
2011
2012
Dollar Amount of Gifts
2000
$7.53
2001
$9.12
2007
$11.10
2002
$7.51
2003
$4.57
1999
2000
2001
2002
2003
2004
$5.78
2004
2005
$6.41
2005
2006
$8.19
2006
15
2011
$8.04
2008
$7.76
2007
2008
2009
$5.08
2010
$4.93
2009
2010
2011
2012
Between 2000 and 2011, the number of million-dollar-plus gifts to higher educational
institutions exhibited the same trend as the dollar amount of gifts, with a few exceptions after
2007 (Figure 5).
•
Both the number and dollar amount of gifts experienced a decline after the eight-month
economic downturn in 2001, and dropped to the lowest point over the 12-year period in
2003, from 1,002 gifts totaling $9.12 billion in 2001 to 571 gifts totaling $4.57 billion in
2003.
•
After 2003, both the number and dollar amount of gifts demonstrated stable growth until
2007, reaching 1,020 gifts with a total of $11.10 billion. Then, in 2008, the number of
gifts went up slightly to 1,079 gifts, but the total dollar value for the year dropped about
30 percent to $7.76 billion.
•
In 2009, higher educational institutions received 38 percent fewer million-dollar-plus
gifts (674 gifts) than in 2008 with a 35 percent decline in dollar value ($5.08 billion). One
year later, in 2010, the number of gifts increased slightly to 763 gifts, but the total dollar
amount remained at roughly the same level ($4.93 billion).
•
The year 2011 witnessed a rise in both the number and dollar amount of gifts, reaching
801 gifts for a total of $8.04 billion. This change suggests a sign of recovery, though the
number and dollar value of gifts had not fully recovered to the high levels seen in 2007
and 2008.
Gifts by Type of Donor
Of the publicly announced million-dollar-plus gifts to higher educational institutions, individuals
contributed the largest share nearly every year between 2000 and 2011; the only exception was
in 2003 when foundations made slightly more gifts. About half of all gifts made over the 12-year
period (48 percent of the number and 51 percent of the dollar value) came from individuals,
about one-third came from foundations, and the remaining 20 percent were contributed by the
other three types of donors (corporations, bequests, and other nonprofits).
When looking at the trends over time, gifts from individuals and foundations saw dramatic
fluctuations in both number and the dollar amount, largely driving the fluctuations in the overall
trends seen in Figure 5. By contrast, corporate gifts and individual bequests experienced less
volatility over time, and realized a modest increase over the second half of the period.
“The relationships the university has in Silicon Valley, the range of expertise it has among its
professors — it can’t be replicated. The university can make our money more fruitful than we could
on our own.”
― Dorothy King
Gift: $150 million to Stanford University to open the Stanford Institute for Innovation in
Developing Economies from Robert and Dorothy King in 2011
Source: The New York Times
16
Impact of Macroeconomic Factors on the Number of Gifts
•
Individual giving to higher educational institutions strongly fluctuates with
macroeconomic factors. Four indicators are found to be statistically significantly
correlated with changes in the number of individual gifts: S&P 500, GDP, personal
consumption expenditures, and unemployment rate.
o The S&P 500, GDP, and personal consumption in the current quarter are positively
associated with an increase in the number of gifts.
o The strongest correlation is with the unemployment rate. An increase of one
percentage point in the unemployment rate is correlated with 31 fewer gifts made by
individuals to higher educational institutions in the same quarter, suggesting that a
high unemployment rate predicts a significant decrease in individual giving.
•
Foundation and corporate gifts to higher educational institutions are largely unaffected by
the macroeconomic factors examined.
Geographic Distribution of Gifts
Approximately half of the gifts made to higher educational institutions (in both the number and
the dollar amount) stayed within the donor’s home state, and slightly more than 60 percent
remained in the same geographic region.
•
This pattern is largely driven by the distribution of gifts from the two major types of
donors — individuals and foundations.
•
A smaller share of corporate gifts stayed within the donor’s home state (55 percent of the
number and 40 percent of the dollar value) or geographic region (72 percent of the
number and 49 percent of the dollar value).
•
A larger share of charitable bequests remained in the same state (61 percent of the
number and 75 percent of the dollar value), or in the same geographic region (75 percent
of the number and 80 percent of the dollar value).
17
Gifts to Other Educational Institutions
This category includes all educational organizations other than higher educational institutions.
Examples of organizations included are elementary and secondary schools, vocational schools,
organizations offering educational services, and public libraries. In the analysis, more than 900
other educational institutions received publicly announced million-dollar-plus gifts between
2000 and 2011, accounting for 12 percent of all recipient organizations.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Figure 6: Million-dollar-plus gifts made to other educational institutions, 2000–2011 (in millions
of inflation-adjusted 2011 dollars)
Number of Gifts
2007
200
2000
90
1999
2000
2001
110
2001
2002
89
2003
88
2004
87
2002
2003
2004
2008
157
2006
138
2005
120
2005
2006
2010
148
2011
144
2010
2011
2009
111
2007
2008
2009
2012
Dollar Amount of Gifts
2000
$1,520
2007
$1,880
2001
$1,430
2002
$556
1999
2000
2001
2002
2003
$659
2003
2004
$410
2004
2006
$942
2005
$655
2005
2006
2008
$706
2007
2008
2009
$789
2009
2010
$597
2010
2011
$817
2011
2012
Compared to higher educational institutions, other educational organizations received a much
smaller share of million-dollar-plus gifts. Between 2000 and 2011, the number and dollar value
of gifts to other educational organizations witnessed dramatic ups and downs over time. Both
reached the lowest level in 2004 at 87 gifts totaling $410 million, and the highest level in 2007 at
200 gifts with a total of $1.88 billion (Figure 6).
18
•
During the first half of this 12-year period, the number of gifts remained at the level of
roughly 90 gifts each year. Then after a steady increase from 87 gifts in 2004 to 200 gifts
in 2007, the number of gifts dropped again sharply to 111 gifts in 2009. The last two
years of the period saw a small increase to 144 gifts in 2011.
•
During the period between 2000 and 2011, the dollar amount of gifts started at a fairly
high level of $1.52 billion in 2000, fell slightly in 2001 to $1.43 billion, and then peaked
in 2007 at $1.88 billion. However, in all other years, the dollar value of gifts remained
relatively low within the range of $410–$950 million.
Gifts by Type of Donor
Of the publicly announced million-dollar-plus gifts made to other educational institutions,
foundations contributed the largest share, accounting for 58 percent of all gifts made from 2000
to 2011 and 51 percent of the total dollar amount. Approximately one-fifth of gifts came from
individuals, in terms of both the number and the dollar value. Corporations and corporate
foundations donated 13 percent of all gifts and 20 percent of the total dollar amount. Gifts from
bequests and other nonprofit groups represented only 7 percent of gifts.
When looking at the trends over time, the number of
gifts from all five types of donors exhibited a similar
volatile pattern over time, all declining from 2001 to
2003 or 2004, then climbing up to 2007, falling again
until 2009, and rising slightly to 2011; except that
foundation gifts continued to decline from 2007 to
2011.
By contrast, the trends in the dollar amount of gifts
from different types of donors appeared quite volatile
over time, with no consistent pattern. Foundations,
followed by individuals, were the major source of
million-dollar-plus donations in most years during
this period. Perhaps the most noteworthy is the highprofile presence of corporate gifts in 2000, 2001, and
2007. In particular, in 2007, corporate gifts reached
$641 million, surpassing both individual gifts ($611
million) and foundation gifts ($498 million).
"I've had a lot of opportunities
in my life, and a lot of that
comes from ... having gone to
really good schools. And I just
want to do what I can to make
sure that everyone has those
same opportunities."
― Mark Zuckerberg
Gift: $100 million to Newark
Public Schools in 2010
Source: Reuters
Impact of Macroeconomic Factors on the Number of Gifts
•
Individual giving to other educational institutions is found to be positively, statistically
significantly correlated with three macroeconomic factors examined: S&P 500, GDP, and
personal consumption expenditures. Also, the unemployment rate shows a negative
correlation with the number of gifts over the same quarter.
•
Foundation gifts are associated with two macroeconomic factors examined — S&P 500
and the current recession quarter. The number of gifts tends to increase when the S&P
19
500 declines or the current quarter has at least one month in recession, suggesting a
counter-cyclical response from foundations to poor economic conditions.
•
Corporate gifts to other educational institutions are found to be unaffected by all the
macroeconomic indicators examined.
Geographic Distribution of Gifts
More than 40 percent of gifts to other educational institutions (in both the number and the dollar
amount) stayed within the donor’s home state, and over half remained in the same geographic
region. When examining donor type, the geographic distribution breaks down as follows:
•
This pattern is largely driven by the distribution of gifts from the two major types of
donors — foundations and individuals.
•
A slightly smaller share of corporate gifts stayed within the donor’s home state (41
percent of the number and 35 percent of the dollar value), but a bigger share of the dollar
amount remained within the donor’s geographic region (56 percent of the number and 74
percent of the dollar value).
•
A majority of charitable bequests remained in the same state (76 percent of the number
and 74 percent of the dollar value), and in the same geographic region (82 percent of the
number and 86 percent of the dollar value).
20
Gifts to Arts, Culture, and Humanities Organizations
Following the NTEE-CC classification system of nonprofit organizations, the MDL database
groups arts, culture, and humanities organizations into one category. This subsector includes
cultural and ethnic associations, media and communication organizations, museums, historical
societies, performing arts groups, and humanities organizations, as well as relevant service,
research, or advocacy organizations. Around 800 arts, culture, and humanities organizations
received publicly announced million-dollar-plus gifts between 2000 and 2011, representing onetenth of all recipient organizations in the analysis.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Figure 7: Million-dollar-plus gifts made to arts, culture, and humanities organizations, 2000–
2011 (in millions of inflation-adjusted 2011 dollars)
Number of Gifts
2000
143
1999
2000
2006
173
2005
167
2001
109
2002
99
2001
2002
2003
85
2003
2007
192
2008
200
2004
113
2004
2009
109
2005
2006
2007
2008
2009
2010
100
2010
2011
123
2011
2012
Dollar Amount of Gifts
2002
$2,320
2003
$1,530
2000
$860
1999
2000
2001
$1,040
2011
$1,860
2005
$1,620
2004
$1,110
2006
$1,040
2007
$1,390
2008
$1,110
2010
$1,090
2009
$480
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
As shown in Figure 7, the number and dollar amount of gifts to arts, culture, and humanities
organizations often exhibited opposite changes during the period between 2000 and 2011.
Moreover, the number of gifts appears to be more sensitive to the economic climate, whereas the
dollar value of gifts tends to be driven more by a few large contributions.
21
•
The number of gifts declined steadily from 143 gifts in 2000 to 85 gifts in 2003, and then
climbed up gradually to 200 gifts in 2008, the highest level over the 12-year period.
Nonetheless, the most recent three years (2009–2011) witnessed a significant drop of
roughly 40 percent, ending at 123 gifts in 2011.
•
By contrast, the overall trend in the dollar amount of gifts appeared quite volatile over
time, but it demonstrated a clear increase after 2009. The year 2002 realized the highest
value during the 12-year period, at $2.32 billion, followed by $1.86 billion in 2011.
Gifts by Type of Donor
Of the publicly announced million-dollar-plus gifts made to arts, culture, and humanities
organizations, foundations and corporations granted 63 percent of all gifts (48 percent from
foundations and 15 percent from corporations). However, these two types of donors contributed
only 40 percent of the total dollar amount (34 percent from foundations and 6 percent from
corporations) during the 12-year period.
On the other hand, individual inter vivo gifts and charitable bequests represented only one-third
(35 percent) of all gifts, but had 59 percent of the total dollar value. In particular, charitable
bequests accounted for 22 percent of the total dollar amount of gifts but only 5 percent of all
gifts. Other grant-making nonprofits contributed the remaining 1 percent of gifts.
When looking at the fluctuations in the number of gifts over time, foundations, individuals, and
corporations all witnessed higher levels in the middle of the 12-year period (roughly 2005–2008)
and lower levels from 2002–2004 and 2009–2010. However, bequests reached the peak in the
number of gifts in 2004, closely followed by 2011, but saw the lower levels from 2000–2002 and
2005–2009.
The dollar amounts of gifts made by foundations and individuals stayed rather stable over time,
within the range of $200 to $600 million, and corporate gifts remained within a lower range of
$10 to $160 million. By contrast, the dollar amount of bequests changed dramatically from year
to year. During the 12-year period, the highest annual dollar amount was $1.42 billion from
bequests in 2002, followed by $1.06 billion from foundations in 2011 and $912 million from
individuals in 2005.
Impact of Macroeconomic Factors on the Number of Gifts
Million-dollar-plus giving to organizations in the arts, culture, and humanities subsector is,
broadly speaking, the most sensitive to changes in economic conditions.
•
Individual giving to arts organizations is found to be positively, statistically significantly
correlated with three macroeconomic factors — S&P 500, GDP, and personal
consumption expenditures. The unemployment rate is negatively associated with the
number of individual gifts over the same quarter.
•
Foundation giving to arts organizations is statistically significantly related to personal
consumption and the current recession quarter. The number of gifts tends to be higher
22
when personal consumption decreases or the current quarter has at least one month in
recession, suggesting foundations’ active response to poor economic conditions.
•
Corporate gifts to arts organizations similarly show strong correlations with three of the
five macroeconomic factors examined — GDP, personal consumption, and
unemployment rate.
Geographic Distribution of Gifts
Roughly 60 percent of gifts to arts, culture, and humanities organizations (in both the number
and the dollar amount) stayed within the donor’s home state, and more than two-thirds (68
percent of the number and 78 percent of the dollar value) remained in the same geographic
region.
•
A similar pattern holds roughly for the geographic distribution of gifts from individuals
and foundations.
•
A smaller share of corporate gifts stayed within the donor’s home state (47 percent of the
number and 52 percent of the dollar value) or geographic region (59 percent of both the
number and the dollar value).
•
About 78 percent of charitable bequests (45 percent of the dollar value) remained in the
same state, and 82 percent of bequests (both the number and the dollar value) stayed
within the same geographic region.
“I was born on what you would call the wrong side of the
tracks and I worked hard, every job imaginable, so now I
can help others with a hand.”
― John Boler
Gift:
$1 million to The Heights Foundation from
John and Mary Jo Boler in 2011 for the
Foundation’s Community and Cultural Arts Center
Source: Florida Weekly
23
Gifts to Environmental Organizations
This category includes environmental and animal-related organizations, such as groups working
for natural resources conservation and protection, pollution abatement or control, animal rescue
and welfare, or wildlife preservation; as well as zoos, aquariums, botanical gardens, and parks.
Organizations for environmental education, research, or advocacy and for animal services are
also included in this category. In the analysis, over 300 environmental organizations received
publicly announced million-dollar-plus gifts between 2000 and 2011.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Figure 8: Million-dollar-plus gifts made to environmental organizations, 2000–2011 (in millions
of inflation-adjusted 2011 dollars)
Number of Gifts
2007
80
2005
68
2001
44
2000
25
1999
2000
2001
2002
34
2002
2003
26
2003
2008
88
2006
58
2009
44
2004
37
2004
2005
2006
2007
2008
2007
$299
2008
$314
2007
2008
2009
2011
53
2010
27
2010
2011
2012
Dollar Amount of Gifts
2001
$705
2000
$353
2002
$203
1999
2000
2001
2002
2003
$298
2003
2005
$427
2006
$348
2004
$197
2004
2005
2006
2009
$131
2009
2010
$97
2010
2011
$264
2011
2012
From 2000 to 2011, the overall trends in the number and dollar amount of million-dollar-plus
gifts donated to environmental organizations exhibited two very different patterns (Figure 8).
The number of gifts witnessed a prominent growth from 26 gifts in 2003 to 88 gifts in 2008,
whereas the dollar amount of gifts experienced a gradual decline from $427 million in 2005 to
$97 million in 2010.
24
•
Before 2005, environmental organizations received less than 50 gifts every year.
Although the number of gifts then rose to its peak at 88 gifts in 2008, it precipitously
dropped in 2009, back to the level prior to 2005.
•
Over this 12-year period, the dollar amount of gifts reached its peak at $705 million in
2001, but then dropped by 71 percent to $203 million in 2002. Since then, the dollar
amount had not achieved that high level, and it gradually dropped to its lowest point at
$97 million in 2010.
•
The year 2011, the last year over this period, saw a moderate increase at 53 gifts with a
total of $264 million.
Gifts by Type of Donor
Of the publicly announced million-dollar-plus gifts made to environmental organizations,
foundations contributed the largest share, representing 56 percent of all gifts made from 2000 to
2011 and 50 percent of the total dollar amount. Approximately one-fifth of gifts came from
individuals, accounting for 24 percent of the dollar value. The remaining one-fourth of gifts were
contributed by the other three types of donors.
The trends in both the number and the dollar amount of gifts from different types of donors
appeared quite volatile over time, with few consistent patterns from year to year. Foundation
gifts reached the highest level at 53 gifts in 2008, but realized the highest dollar value at $580
million in 2001. Individuals made 25 gifts in 2007, which was the highest level of individual
gifts over the period, but the year 2000 in fact had the highest dollar amount of individual gifts at
$281 million.
Impact of Macroeconomic Factors on the Number of Gifts
•
Individual giving to environmental organizations is statistically significantly correlated
with four macroeconomic factors — S&P 500, GDP, personal consumption, and
recession.
o
Both S&P 500 and GDP in the current quarter are positively linked to a small
increase in the number of individual gifts. The number of gifts is lower if at least one
month in the current quarter is in recession.
o
A decline in GDP and personal consumption in the previous quarter is associated with
a small increase in the number of gifts in the current quarter.
•
Foundation giving to environmental organizations has a positive, though relatively weak,
correlation with personal consumption in the current quarter.
•
Corporate gifts to environmental organizations are found to be positively related to two
macroeconomic indicators, GDP and recession. The number of gifts tends to be higher
when GDP increases or the current quarter has at least one month in recession.
25
Geographic Distribution of Gifts
Less than half of gifts to environmental organizations (48 percent of the number and 45 percent
of the dollar amount) stayed within the donor’s home state, and slightly more than half (60
percent of the number and 53 percent of the dollar amount) remained in the same geographic
region.
•
Over 40 percent of foundation gifts stayed within the same state, and a slightly larger
share (55 percent of the number and 46 percent of the dollar value) stayed within the
same geographic region.
•
A majority of individual gifts in dollar value remained within the same state (58 percent
of the number and 78 percent of the dollar value), or within the same geographic region
(69 percent of the number and 82 percent of the dollar value).
•
Over half of corporate gifts stayed within the donor’s geographic region, although less
than one-third stayed within the donor’s home state.
•
More than two-thirds of bequests remained local (67 percent in the same state and 76
percent in the same region), but these local gifts tended to be much smaller in dollar
value, as only 19 percent of the total dollar amount from bequests went to organizations
within the same state and 31 percent stayed within the same region.
26
Gifts to Foundations
Recipient organizations in this category include corporate foundations, independent (also called
private, which includes family) foundations, and operating foundations. Community foundations
are included in another category — public-society benefit — because these organizations are
public charities, which are structured differently from other foundations, and they are closely tied
to the community they serve. In the analysis, less than 200 foundations received publicly
announced million-dollar-plus gifts between 2000 and 2011.
It is important to note that gifts made to donor-advised funds are included in the category of
public-society benefit if the gifts went to community foundations, and included in the
foundations category if the gifts went to any other type of foundation. Another important point to
note is that gifts made by individuals (or by corporations in a very few cases) to their own
foundations are included here, because the money may not be granted to other nonprofits
immediately, and, instead, may be spent on charitable causes in future years.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Figure 9: Million-dollar-plus gifts made to foundations, 2000–2011 (in millions of inflationadjusted 2011 dollars)
Number of Gifts
2006
31
2001
20
2000
12
1999
2000
2005
22
2002
17
2003
8
2001
2002
2003
2011
32
2008
29
2009
19
2007
18
2004
11
2004
2005
2006
2007
2008
2009
2010
16
2010
2011
2012
Dollar Amount of Gifts
2006
$44,300
2000
$14,800
1999
2000
2001
2002
$10,300 $2,470
2001
2002
2008
2007
$7,140
$6,170
2004
$6,890
2005
$338
2003
$65
2003
2004
2005
2006
27
2007
2008
2009
$2,660
2009
2010
$64
2010
2011
$1,680
2011
2012
During the period between 2000 and 2011, both the number and dollar amount of million-dollarplus gifts made to foundations experienced prominent declines from 2001 to 2003 and again
from 2008 to 2010 (Figure 9).
•
The number of gifts first dropped from 20 gifts in 2001 to only 8 gifts in 2003, the lowest
level over the 12-year period. Then it exhibited a steady growth to 31 gifts in 2006. After
2008, the number of gifts fell again from 29 gifts to 16 gifts in 2010. However, this
period ended in 2011 with a strong recovery to 32 gifts, the highest level during the entire
period.
•
At the beginning of this 12-year period, the dollar amount of gifts declined dramatically
from $14.8 billion in 2000 to $65 million in 2003. Between 2004 and 2008, the dollar
amount of gifts gained a remarkable growth, and reached its peak at $44.3 billion in
2006. However, if a single gift of $33.47 billion made in 2006 ($30 billion in 2006
dollars) is excluded, then the total dollar value of gifts made in that year is approximately
$10.8 billion, still lower than the $14.8 billion in 2000.
•
After 2008, the dollar value of gifts decreased again from $7.14 billion to $64 million in
2010, the lowest amount over the 12-year period. It quickly climbed up to $1.68 billion in
2011.
Gifts by Type of Donor
Of the publicly announced million-dollar-plus gifts made to foundations, foundations and
individuals each granted roughly one-third of all gifts, at 37 percent and 31 percent, respectively.
Another one-third came from corporations (17 percent), charitable bequests (13 percent), and
other nonprofit groups (3 percent).
However, when looking at the dollar value of these
gifts, foundations and corporations contributed only 3
percent of the total dollar amount, whereas individual
gifts represented the largest share (73 percent),
followed by bequests (25 percent). Even if the single
individual gift of $33.47 billion made in 2006 ($30
billion in 2006 dollars) is excluded, individual gifts
still account for over half of the total dollar amount.
The trends in the number and dollar value of gifts by
type of donor also suggest similar patterns.
Foundations and individuals were the two major
donors in terms of the number of gifts almost every
year. Individuals and bequests were the top two donors
in terms of dollar amount every year, while foundation
gifts never reached $120 million in a single year
during the 12-year period.
28
“I associate myself with people
that are more talented than I am.
That's exactly what I'm doing in
philanthropy.”
― Warren Buffett
Gift: $30.7 billion to Bill & Melinda
Gates Foundation in 2006
Source: Bloomberg
Impact of Macroeconomic Factors on the Number of Gifts
•
Individual giving to foundations is statistically significantly related to only two of the
macroeconomic factors examined, the S&P 500 and recession.
o
The S&P 500 shows a small, positive relationship with the number of individual gifts
over the current quarter.
o
Individuals tend to make fewer gifts to foundations when the current quarter has at
least one month in recession.
•
Million-dollar-plus gifts from foundations to foundations have a negative relationship
with unemployment rate in the current and previous quarters. A rise in the unemployment
rates is linked to a drop in the number of foundation gifts over the current quarter.
•
Corporate gifts to foundations are found to be unaffected by all of the macroeconomic
indicators examined.
Geographic Distribution of Gifts
Slightly more than half of gifts to foundations (in both the number and the dollar amount) stayed
within the donor’s home state, and slightly more than 60 percent remained in the same
geographic region.
•
Over one-third of foundation gifts (43 percent of the number and 34 percent of the dollar
value) went to foundations in the same state, and roughly half (54 percent of the number
and 47 percent of the dollar value) remained within the same geographic region. A very
similar pattern holds for the distribution of corporate gifts.
•
More than three-fifths of individual gifts remained local (65 percent in the same state and
74 percent in the same region), but these local gifts tended to be much smaller in dollar
value, as about 47 percent of the total dollar amount from individuals stayed within the
same state and 48 percent within the same region.
•
A substantial majority of charitable bequests remained local (about 90 percent of the
number and 97 percent of the dollar value).
29
Gifts to Health Organizations
On the MDL, health organizations include hospitals and medical-care facilities; institutions
providing support for diseases, disorders, mental health or crisis intervention; and organizations
offering medical services, research, or advocacy. It is important to note that university-affiliated
health organizations are included in another category — higher education. Over 950 health
organizations received publicly announced million-dollar-plus gifts between 2000 and 2011,
representing approximately 13 percent of all recipient organizations in the analysis.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Figure 10: Million-dollar-plus gifts made to health organizations, 2000–2011 (in millions of
inflation-adjusted 2011 dollars)
Number of Gifts
2007
218
2000
72
1999
2000
2001
95
2002
90
2001
2002
2003
75
2003
2005
173
2006
165
2005
2006
2008
190
2004
116
2004
2007
2008
2009
144
2010
150
2009
2010
2011
182
2011
2012
Dollar Amount of Gifts
2007
$2,700
2001
$2,220
2000
$562
1999
2000
2002
$391
2001
2002
2004
$1,260
2006
2005 $1,720
$1,490
2008
$1,370
2003
$733
2003
2009
$733
2004
2005
2006
2007
2008
2009
2010
$919
2010
2011
$1,320
2011
2012
Between 2000 and 2011, the number of million-dollar-plus gifts to health organizations exhibited
a very similar trend as the dollar amount of gifts (Figure 10). Both reached the peak in 2007 and
recovered quickly in 2010 after a two-year decline. Moreover, the number of gifts to health
organizations did not appear to decline as rapidly as gifts to other types of organizations.
30
•
The number of gifts gradually rose from the lowest level of 72 gifts in 2000 to the highest
level of 218 gifts in 2007. The years 2008 and 2009 saw a moderate decrease to 144 gifts.
Then it quickly climbed up in 2010 and 2011 to 182 gifts, more than doubling the level at
the beginning of the period.
•
Similarly, the dollar amount of gifts increased steadily from the lowest level of $391
million in 2002 to the peak of $2.7 billion in 2007. Then, after a sharp decrease from
2007 to $ 733 million in 2009, it started to grow again and ended at $1.32 billion in 2011.
•
The year 2001 showed a huge spike in the dollar value of gifts, at $2.22 billion, though
the number of gifts (95 gifts) was only slightly higher than that in 2000 (72 gifts). This
jump was largely driven by a single gift of $1.41 billion ($1.11 billion in 2001 dollars) to
establish the endowment for a medical research institute.
Gifts by Type of Donor
Of the publicly announced million-dollar-plus gifts made to health organizations, the two largest
shares came from foundations (42 percent of all gifts and 39 percent of the total dollar amount)
and individuals (36 percent of all gifts and 45 percent of the total dollar amount), followed by
corporations and corporate foundations (13 percent of all gifts and 6 percent of the dollar value).
The trends in both the number and the dollar amount of gifts from different types of donors
match roughly with the overall trends shown in Figure 10. The three remarkably high dollar
values — $1.68 billion from individuals in 2001, $1.62 billion from individuals in 2007, and
$600 million from other groups in 2004 — can be largely attributed to a few very large
contributions made in those years.
Impact of Macroeconomic Factors on the Number of Gifts
Million-dollar-plus giving to health organizations is largely unaffected by economic influences.
The only exception is that S&P 500 in the previous quarter has a small negative correlation with
gifts made by corporations in the current quarter.
Geographic Distribution of Gifts
Roughly 70 percent of gifts to health organizations (in both the number and the dollar amount)
stayed within the donor’s home state or geographic region.
•
Roughly 60 percent of foundation gifts went to health organizations within the same
state, and about 66 percent remained within the same region.
•
A majority of individual gifts (72 percent of the number and 81 percent of the dollar
value) stayed within the donor’s home state, and a slightly larger share (78 percent of the
number and 86 percent of the dollar value) stayed within the same region.
•
About half of corporate gifts remained within the same state, and more than 60 percent
stayed within the same region (62 percent of the number and 71 percent of the dollar
value).
31
•
Nearly 70 percent of charitable bequests, accounting for 55 percent of the dollar amount,
remained local, in the same state. About 80 percent of bequests, representing 75 percent
of the dollar amount, stayed within the same geographic region.
"We all owe a responsibility to our community to help our children stay healthy
and happy. After all, our children are the future."
― Bill Edwards
Gift: $2.5 million to All Children’s Hospital in 2010
Source: All Children’s Hospital
“This most generous gift will enhance the healing process for the children we
serve. We know that providing the best care for children involves more than
expert staff and first-class technology. That's why we've created a familycentered environment for patient care in our new hospital. This gift will ensure
our ability to provide therapies and information that will help kids and their
families cope with and understand their medical issues.”
― Gary Carnes, All Children's Health System
Source: All Children’s Hospital
32
Gifts to Human Services Organizations
The human services category contains organizations offering a broad range of programs and
social services, including crime prevention or legal services; employment assistance; food,
agricultural and nutrition programs; housing and shelter; public safety; disaster preparedness and
relief; recreations and sports; youth development; family and children’s services; and
independent living assistance. Some large organizations, such as American Red Cross, Salvation
Army, and Volunteers of America, are included in this category. In the analysis, 770 human
services organizations received publicly announced million-dollar-plus gifts between 2000 and
2011, accounting for 10 percent of all recipient organizations.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Figure 11: Million-dollar-plus gifts made to human services organizations, 2000–2011
(in millions of inflation-adjusted 2011 dollars)
Number of Gifts
2005
334
2001
258
2000
55
1999
2000
2001
2002
102
2003
53
2002
2003
2006
102
2004
76
2004
2005
2006
2007
142
2008
138
2007
2008
2009
110
2010
119
2009
2010
2011
165
2011
2012
Dollar Amount of Gifts
2004
$2,100
2001
$1,290
2002
$472
2000
$441
1999
2000
2001
2002
2005
$1,010
2003
$300
2003
2004
2005
2011
$889
2006
$430
2007
$495
2008
$466
2009
$386
2010
$399
2006
2007
2008
2009
2010
2011
2012
Between 2000 and 2011, the number of million-dollar-plus gifts to human services organizations
exhibited a very similar trend as the dollar amount of gifts, except for the years 2004 and 2005
(Figure 11). Both fluctuated greatly before 2006, and remained fairly stable from 2006 to 2010.
33
In contrast to gifts to other types of organizations, gifts to human services organizations held
relatively steady during the most recent economic recession.
•
The first half of this 12-year period witnessed dramatic ups and downs in both the
number and the dollar amount of gifts. The year 2005 saw the highest number of gifts, at
334 gifts, with a total of $1.01 billion. The year 2004 realized the highest dollar value at
$2.1 billion, but it was largely driven by a single planned gift of $1.79 billion ($1.5
billion in 2004 dollars). On the other hand, gifts to human services organizations reached
the lowest level in 2003, at 53 gifts with a total of $300 million.
•
During the second half of the period (2006–2010), the number and dollar amount of gifts
remained stable at a relatively lower level, with 100–150 gifts totaling $380–$500 million
every year. Nevertheless, this period ended with a moderate growth in 2011 (165 gifts
with a total of $889 million).
Gifts by Type of Donor
Of the publicly announced million-dollar-plus gifts made to human services organizations,
foundations and corporations were the top two major donors.
•
Foundations granted around one-third of all gifts made between 2000 and 2011 (39
percent of all gifts and 35 percent of the total dollar amount).
•
Corporations and corporate foundations contributed 42 percent of all gifts and 29 percent
of the total dollar value.
•
About 13 percent of gifts came from individuals, accounting for 8 percent of the dollar
amount. On the contrary, charitable bequests represented only 3 percent of gifts, but 26
percent of the dollar amount. Other grant-making nonprofits contributed the remaining 3
percent of both the number and the dollar value of gifts.
When looking at the trends over time, the following patterns emerge:
•
Foundations made more gifts than all other types of donors almost every year and
reached a higher dollar value in most years as well.
•
Foundation gifts declined in both the number and the dollar amount from 2001 to 2003,
and again from 2008 to 2010.
•
The years 2001 and 2005 saw two dramatic jumps in corporate gifts to human services
organizations, and the last two years of the period — 2010 and 2011 — also witnessed a
quick growth in corporate gifts.
Impact of Macroeconomic Factors on the Number of Gifts
•
Individual gifts to human services organizations are linked to the changes in
unemployment rate only — a rise in the unemployment rate predicting a small drop in the
number of gifts.
•
Foundation gifts show no correlation with any macroeconomic factors examined.
34
•
Corporate gifts are only linked to one macroeconomic factor examined — recession. The
number of corporate gifts is lower when at least one month of the current quarter is in
recession.
Geographic Distribution of Gifts
Less than one-third of gifts to human services
organizations (34 percent of the number and 27
percent of the dollar amount) stayed within the
donor’s home state. A slightly larger share (50
percent of the number and 37 percent of the dollar
amount) remained within the same geographic region.
•
Roughly half of gifts from individuals and
foundations went to organizations located in
the same state, and roughly 60 percent
remained within the same region.
•
Only a small portion of corporate gifts stayed
local (around 12 percent within the same state,
and about one-third within the same region).
•
More than half of bequests remained local (57
percent in the same state and 68 percent in the
same region), but these local gifts tended to be
much smaller in dollar value, as only 5 percent
of the total dollar amount from bequests went
to organizations within the same state and 9
perce1nt stayed within the same region.
"My
parents were both very
involved in community affairs
throughout their lives. Their legacy
of imagination, loyalty and faith will
continue through their generous
gift to the community they loved so
dearly."
― Elizabeth Porter Daane
Donors’ Daughter
Gift:
An unrestricted bequest,
estimated between $60 and
$70 million, from the
estate of Frank and Nancy
Porter in 2003 to The
Cleveland Foundation
Source: The Cleveland Foundation
"This bequest is truly a gift from
the entire Porter family to Greater
Cleveland. Gifts such as this allow
The Cleveland Foundation to
enhance its support of the
economic, social and cultural life of
this great community."
― Ronald B. Richard
The Cleveland Foundation
Source: The Cleveland Foundation
35
Gifts to Public-Society Benefit Organizations
The category of public-society benefit contains organizations working on several major types of
causes, including civil rights, social action and advocacy; community improvement and capacity
building; research in science and technology; public transportation and telecommunication
services; public policy research; consumer protection; and other issues related to public benefits.
Community foundations are also included in this category, because these organizations are
public charities, structured differently from other foundations, and are closely tied to the
community they serve. Large organizations with combined purposes, such as United Way and
Jewish Federation, are included in this category. More than 900 public-society benefit
organizations received publicly announced million-dollar-plus gifts between 2000 and 2011,
representing 12 percent of all recipient organizations in the analysis.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Figure 12: Million-dollar-plus gifts made to public-society benefit organizations, 2000–2011
(in millions of inflation-adjusted 2011 dollars)
Number of Gifts
2001
183
2000
118
1999
2000
2001
2008
226
2002
147
2002
2005
170
2003
106
2003
2006
132
2004
119
2004
2005
2006
2007
Dollar Amount of Gifts
2001
$1,160
2002
$896
2000
$894
1999
2000
2001
2002
2003
$798
2003
2005
$855
2009
173
2007
172
2007
2006
$1,130
$1,070
2008
2009
2011
113
2010
2011
2009
$978
2010
$586
2005
2006
36
2007
2012
2008
$1,350
2004
$600
2004
2010
121
2008
2009
2010
2011
$759
2011
2012
Between 2000 and 2011, the number of million-dollar-plus gifts to public-society benefit
organizations exhibited a very similar trend as the dollar amount of gifts, with few exceptions
(Figure 12).
•
The number of gifts first decreased from 183 gifts in 2001 to 106 gifts in 2003, and then
rose gradually to the peak of 226 gifts in 2008. However, since then, it started another
wave of decline to 113 gifts in 2011.
•
Similarly, the years between 2001 and 2004 saw a continuous decrease in the dollar
amount of gifts from $1.16 billion to $600 million. Then the dollar amount of gifts
experienced a steady growth to $1.35 billion in 2008, the highest level over the entire
period. However, from 2009, the dollar amount fell again and hit the bottom at $586
million in 2010. Nevertheless, the year 2011 showed a hopeful sign of recovery with
$759 million.
Gifts by Type of Donor
Of the publicly announced million-dollar-plus gifts made to public-society benefit organizations,
foundations contributed over half of donations between 2000 and 2011 (62 percent of all gifts
and 55 percent of the total dollar amount). Less than one-fifth of gifts came from individuals and
corporations, respectively. Only a small share (8 percent of gifts and 13 percent of the dollar
value) was from bequests and other grant-making nonprofits.
The fluctuations in the number and dollar amount of gifts from year to year also reflect the
dominance of foundation gifts, which largely contributed to the overall trends seen in Figure 12.
The year 2008 saw the highest level of foundation gifts at 155 gifts totaling $945 million.
Impact of Macroeconomic Factors on the Number of Gifts
•
Individual gifts are statistically significantly associated with S&P 500 in the previous
quarter only, and the correlation is rather small and relatively weak.
•
Foundation gifts are statistically significantly related to unemployment rate and
recession. Particularly, the current recession quarter shows a strong correlation with an
increase in the number of foundation gifts, suggesting a counter-cyclical response from
foundations to poor economic conditions.
•
Corporate gifts are statistically significantly linked to S&P 500, GDP, and unemployment
rate. Specifically, corporations tend to give slightly more gifts when the current quarter
sees a decline in S&P 500 or GDP or an increase in the unemployment rate.
Geographic Distribution of Gifts
More than 40 percent of gifts to public-society benefit organizations (in both the number and the
dollar amount) stayed within the donor’s home state, and slightly over half remained in the same
geographic region.
37
•
A similar pattern roughly holds for the distribution of gifts from individuals and
foundations.
•
About one-third of corporate gifts stayed within the donor’s home state, and around half
remained within the same region.
•
A substantial majority of charitable bequests were given locally in the same state (80
percent of the number and 88 percent of the dollar value), or in the same region (88
percent of the number and 92 percent of the dollar value).
38
Gifts to Religious Organizations
On the MDL, religious organizations include all faith-based organizations whose primary
mission is religion-related, such as religious services, education, research, or media. Examples of
organizations included are churches, synagogues, religious schools, religious humanitarian aid
organizations, and religious community centers. In the analysis, more than 100 religious
organizations received publicly announced million-dollar-plus gifts between 2000 and 2011.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Figure 13: Million-dollar-plus gifts made to religious organizations, 2000–2011 (in millions of
inflation-adjusted 2011 dollars)
Number of Gifts
2007
26
2004
22
2000
14
2001
7
1999
2000
2001
2002
10
2002
2005
11
2003
8
2003
2004
2008
17
2006
15
2005
2006
2007
2008
2009
14
2010
9
2011
12
2009
2010
2011
2009
$47
2010
$39
2011
$39
2009
2010
2011
2012
Dollar Amount of Gifts
2006
$283
2000
$278
2008
$205
2001
$28
1999
2000
2001
2002
$37
2002
2003
$21
2003
2004
$84
2005
$74
2004
2005
2007
$125
2006
2007
2008
2012
Between 2000 and 2011, the overall trends in the number and dollar amount of million-dollarplus gifts donated to religious organizations exhibited two very different patterns (Figure 13).
Although a comparatively large number or dollar amount was reported for several years, gifts to
religious organizations remained at a relatively low level during this 12-year period. This trend
may be partially attributed to the tendency for religious organizations not to announce the receipt
of major gifts.
39
•
The number of gifts witnessed a continual growth from 7 gifts in 2001 to 26 gifts in 2007,
except for a prominent jump in 2004 at 22 gifts. Then, the number of gifts began a threeyear decline, dropping to 9 gifts in 2010. The year 2011 saw a slight increase to 12 gifts.
•
The dollar amount of gifts remained below $100 million (often under $50 million) for
most years during the period of 2000 to 2011. The years 2000, 2006, and 2008 saw over
$200 million each year.
Gifts by Type of Donor
Of the publicly announced million-dollar-plus gifts made to religious organizations, foundations
and individuals are the top two major donors.
•
Foundations granted around 43 percent of all gifts made between 2000 and 2011,
accounting for 33 percent of the total dollar amount.
•
Individuals contributed 35 percent of gifts with 46 percent of the total dollar amount.
•
About one-sixth of gifts (in both the number and the dollar value) came from charitable
bequests.
The trends in the number and the dollar amount of gifts from different types of donors appeared
quite volatile over time, with no consistent pattern. The year 2006 saw a remarkably high dollar
value from individual gifts, at $215 million from just 5 gifts. This spike was primarily driven by
a single gift of $167 million ($150 million in 2006 dollars) to a church.
Impact of Macroeconomic Factors on the Number of Gifts
Million-dollar-plus gifts to religious organizations are largely unaffected by economic
conditions, with a few exceptions.
•
Individual gifts are negatively, statistically significantly correlated with recession in the
previous quarter, suggesting that individuals tend to give fewer gifts when the previous
quarter has at least one month in recession.
•
Foundation gifts are statistically significantly linked to GDP and recession.
o
GDP in the previous quarter has a small, positive association with the changes in the
number of foundation gifts over the current quarter.
o
Foundations tend to give slightly more gifts if the current quarter has at least one
month in recession.
Geographic Distribution of Gifts
Less than half of gifts to religious organizations (45 percent of the number and 33 percent of the
dollar amount) stayed within the donor’s home state. A slightly larger share (55 percent of the
number and 45 percent of the dollar amount) remained in the same geographic region.
40
•
Over half of foundation gifts (51 percent of the number and 58 percent of the dollar
value) went to religious organizations within the same state, and around 60 percent stayed
within the same geographic region.
•
More than one-third of individual gifts remained local (36 percent in the same state and
45 percent in the same region), but these local gifts tended to be much smaller in dollar
value, as only 14 percent of the total dollar amount from individuals stayed within the
same state and 20 percent within the same region.
•
About 54 percent of charitable bequests (accounting for 34 percent of the total dollar
amount) remained in the same state, and 65 percent of bequests (representing 75 percent
of the dollar amount) stayed within the same region.
"He'd say: `If you've got money in your pocket that you're not using
and you find someone who needs it, give it to them. If you keep that
money, it would be like having a stone in your pocket for all the good
it does,'"
― An anonymous donor who shared his father’s advice
Gift: $40 million from an anonymous family in Missouri in 2005 to
The Community of Christ, Missouri
Source: cjonline.com
41
Gifts to International Organizations
The category of international organizations includes U.S.-based nonprofit organizations that
operate primarily outside of the country, or organizations primarily focusing on international
issues, such as international aid, development, or relief; promotion of international understanding
or international peace; advocacy for international human rights; and research in foreign policy. In
the analysis, over 200 U.S.-based international organizations received publicly announced
million-dollar-plus gifts between 2000 and 2011. As organizations in this category have a broad
range of purposes, the distribution of gifts by specific cause that they support is further discussed
below.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Figure 14: Million-dollar-plus gifts made to international organizations, 2000–2011 (in millions
of inflation-adjusted 2011 dollars)
Number of Gifts
2008
97
2005
76
1999
2000
32
2001
29
2002
26
2003
25
2000
2001
2002
2003
2006
71
2007
66
2009
53
2010
67
2011
42
2004
31
2004
2005
2006
2007
2008
2009
2010
2011
2012
Dollar Amount of Gifts
2003
$1,050
2000
$947
2001
$633
1999
2000
2001
2002
$235
2002
2006
$1,000
2004
$214
2003
2004
2005
$538
2008
$822
2009
$772
2007
$495
2005
2006
2007
2008
2009
2010
$595
2010
2011
$199
2011
2012
From 2000 to 2011, the overall trends in the number and dollar amount of million-dollar-plus
gifts donated to U.S.-based international organizations exhibited two very different patterns
(Figure 14). The second half of the period saw a prominent increase in the number of gifts,
42
compared with the relatively lower level over the early years; while, on the other hand, the dollar
amount of gifts often changed dramatically from year to year.
•
The number of gifts remained at roughly 30 gifts every year between 2000 and 2004.
However, it suddenly rose to 76 gifts in 2005 and stayed at this higher level throughout
the rest of the period. The year 2008 saw the peak at nearly 100 gifts.
•
By contrast, the overall trend in the dollar amount of gifts appeared quite volatile over
time. At the beginning of the period, it dropped quickly from $947 million in 2000 to
$235 million in 2002. Then after a huge jump to $1.05 billion in 2003, it fell immediately
in 2004 to $214 million. Nevertheless, it quickly climbed back to $1 billion in 2006.
After 2008, the dollar amount of gifts again continued to decline and reached its lowest
level of the entire period at $199 million in 2011.
Gifts by Type of Donor
Of the publicly announced million-dollar-plus gifts made to international organizations, around
63 percent came from foundations. Individuals and corporations each contributed less than 20
percent, while bequests and gifts from other grant-making nonprofits accounted for a rather small
portion (3 percent).
The yearly fluctuations in the number and dollar amount of gifts by donor type also reflect the
dominance of foundation gifts. The year 2008 saw the largest number of gifts donated by
foundations, at 63 gifts with a total of $660 million; whereas the year 2000 realized the highest
dollar amount given by foundations, at $729 million from just 23 gifts. This huge spike can be
largely attributed to one major gift of over $300 million. Perhaps the most noteworthy is the
high-profile presence of corporate gifts in 2003, with $611 million from one gift ($500 million in
2003 dollars) supporting global health efforts.
Distribution of Gifts to International Organizations by Charitable Cause Supported
As million-dollar-plus gifts made to international organizations in fact supported a wide range of
charitable causes, this study further examines the distribution of these gifts by the primary
mission and cause that recipient organizations support. A majority (over 80 percent) of these
gifts went to human services, public-society benefit, and health organizations.
•
International human services organizations received one-third of gifts made to all U.S.based international organizations (35 percent of the number of gifts and 30 percent of the
dollar value).
•
About 26 percent of gifts, accounting for 15 percent of the total dollar amount, went to
international organizations providing public-society benefit.
•
International health organizations received 22 percent of the number of gifts, representing
the largest share of the dollar value (39 percent).
43
Impact of Macroeconomic Factors on the Number of Gifts
•
•
•
Individual gifts are statistically significantly correlated with four macroeconomic factors
examined: S&P 500, GDP, personal consumption, and unemployment rate.
o
In particular, personal consumption expenditures in the current and previous quarters
are both positively linked to the changes in the number of gifts over the current
quarter.
o
The unemployment rate in the previous quarter shows a negative correlation with
individual gifts over the current quarter.
Foundation giving to international organizations is the most responsive to changes in
economic conditions compared to foundation gifts to all other types of recipient
organizations. Four macroeconomic factors examined — GDP, personal consumption,
unemployment rate, and recession — show statistically significant correlations with the
changes in the number of foundation gifts.
o
The number of gifts tends to be higher when GDP, or personal consumption,
increases in the current and previous quarters, or when the current quarter has at least
one month in recession.
o
Unemployment rates in the current and previous quarters are negatively associated
with the number of foundation gifts made over the current quarter.
Corporate gifts to international organizations are found to be unaffected by any of the
macroeconomic indicators examined.
Geographic Distribution of Gifts
Less than one-third of gifts to U.S.-based international organizations (19 percent of the number
and 30 percent of the dollar amount) stayed within the donor’s home state, and a slightly larger
portion (33 percent of the number and 43 percent of the dollar amount) remained within the same
geographic region.
•
Less than 30 percent of gifts from foundations remained local (approximately 20 percent
within the same state, and about 27 percent within the same region).
•
Over 60 percent of corporate gifts in dollar value stayed within the donor’s home state
(versus only 16 percent of the total number of gifts). Similarly, 78 percent of the total
dollar amount of corporate gifts stayed within the same region, accounting for only 38
percent of the total number of gifts.
•
About one-third of individual gifts remained within the same state, and 48 percent of gifts
(accounting for 67 percent of the total dollar value) stayed within the same region.
44
“Providing access to health services and education, including oral health, is critical
to building a positive and sustainable impact on our local communities. … These
programs will also provide our associates an opportunity to get involved in their
communities, and by interacting with young children in schools, we will be boosting
awareness across future generations.”
― Dushan Petrovich, The Wm. Wrigley Jr. Company Foundation
Gift: $3 million grant from The Wm. Wrigley Jr. Company Foundation to Save the
Children to launch a two-year school health partnership
Source: Save the Children
“We are pleased to receive this donation from the Wrigley Company Foundation
which will allow us to expand our school health programs to reach even more
children in Africa, Asia and Central Asia. Diseases like diarrhea, worms and anemia,
which are easily preventable and treatable in the United States, keep millions of
children in low-income countries out of school. Even more children go to school sick,
which affects their learning ability. By teaching school-age children about healthy
practices, such as hand washing, good oral hygiene, and eating nutritious foods, and
making some changes to the school environment, we can help children learn to be
healthy and ensure they are healthy to learn.”
― Charles MacCormack, Save the Children
Source: Save the Children
45
Gifts to U.S. Government Institutions
This category includes all U.S. governmental organizations that received million-dollar-plus
gifts. Some examples are Library of Congress, Department of Education, National Park Service,
Department of Cultural Affairs, or city councils. In the analysis, around 180 government
institutions received publicly announced million-dollar-plus gifts between 2000 and 2011. As
organizations in this category have a broad range of purposes, the distribution of gifts by specific
cause that they support is further discussed below.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Figure 15: Million-dollar-plus gifts made to government institutions, 2000–2011 (in millions of
inflation-adjusted 2011 dollars)
Number of Gifts
2005
24
2001
22
2000
15
1999
2000
2002
5
2001
2007
28
2002
2003
16
2003
2006
22
2009
31
2008
23
2010
21
2011
13
2004
11
2004
2005
2006
2007
2008
2009
2010
2011
2012
Dollar Amount of Gifts
2007
$349
2000
$338
2001
$243
2004
$222
2002
$10
1999
2000
2001
2010
$267
2002
2003
$114
2003
2006
$176
2005
$149
2004
2005
2006
2008
$84
2007
2008
2011
$76
2009
$133
2009
2010
2011
2012
During the period between 2000 and 2011, the number and dollar amount of million-dollar-plus
gifts to U.S. government institutions experienced dramatic fluctuations over time, both reaching
the lowest level in 2002 at 5 gifts with a total of $10 million (Figure 15).
46
•
After reaching the lowest point in 2002 with only 5 gifts, the number of gifts saw a slow
growth to 31 gifts in 2009. Nevertheless, it decreased afterward, ending with 13 gifts in
2011.
•
Similarly, the dollar amount of gifts dropped to the lowest level over the entire period at
$10 million in 2002. It then went up gradually and reached the peak at $349 million in
2007. However, it fell dramatically by 76 percent to $84 million in 2008. Although the
dollar amount of gifts rose again in 2009 and 2010, it declined by 72 percent from 2010
($267 million) to 2011 ($76 million).
Gifts by Type of Donor
Of the publicly announced million-dollar-plus gifts made to government institutions, roughly 60
percent (57 percent of the number and 64 percent of the dollar value) came from foundations.
Individuals and corporations together contributed about one-third of gifts, while bequests and
gifts from other grant-making nonprofits accounted for a rather small share (9 percent of the
number and 4 percent of the dollar value).
The yearly fluctuations in the number and dollar amount of gifts by donor type also reflect the
dominance of foundation gifts.
•
The year 2009 saw the largest number of gifts donated by foundations, at 18 gifts with a
total of $45 million.
•
The year 2007 realized the highest dollar amount given by foundations, at $315 million
from 14 gifts. This huge spike can be primarily attributed to two major gifts of over $100
million.
•
The year 2010 witnessed a prominent jump in the dollar amount of corporate gifts, at
$196 million (from 8 gifts), whereas corporate gifts never exceeded $50 million in a
single year during the rest of the period. This spike was primarily attributed to several
large gifts from one company for environmental issues.
Distribution of Gifts to Government Institutions by Charitable Cause Supported
As million-dollar-plus gifts made to U.S. government institutions in fact supported a wide range
of charitable causes, this study further examines the distribution of these gifts by the primary
mission and cause that recipient organizations support. More than half (56 percent) of these gifts
went to education, human services, and environmental organizations.
•
Government educational institutions received the largest share of all gifts made to U.S.
government agencies, with 23 percent of the number of gifts and 30 percent of the dollar
amount.
•
Government human services agencies received 19 percent of gifts but only 8 percent of
the dollar value.
•
Less than one-fifth of gifts went to government environmental agencies (14 percent of the
number of gifts and 18 percent of the dollar value).
47
Impact of Macroeconomic Factors on the Number of Gifts
Million-dollar-plus gifts made by foundations to government institutions are found to be
unaffected by economic conditions in the U.S. Other types of donors each made no more than 50
gifts to government agencies from 2000 to 2011, and thus the sample size is too small to analyze
the correlation between the number of gifts and macroeconomic indicators.
Geographic Distribution of Gifts
Approximately half of gifts to governmental organizations (54 percent of the number and 46
percent of the dollar amount) stayed within the donor’s home state. Around 70 percent of gifts
(representing 77 percent of the dollar value) remained in the same geographic region.
•
A similar pattern holds roughly for the distribution of gifts from foundations and
individuals.
•
Although a small portion of corporate gifts stayed within the donor’s home state (44
percent of the number and 17 percent of the dollar value), a substantial majority of gifts
remained with the same region (83 percent of the number and 91 percent of the dollar
value).
48
Gifts to Overseas Organizations
The overseas category includes all nonprofit organizations headquartered outside the U.S. In the
analysis, more than 400 foreign organizations received publicly announced million-dollar-plus
gifts between 2000 and 2011. Organizations in this category have a broad range of purposes, so
the distribution of gifts by specific cause that they support is further discussed below.
Trends in the Number and Dollar Amount of Gifts, 2000–2011
Figure 16: Million-dollar-plus gifts made to overseas organizations, 2000–2011 (in millions of
inflation-adjusted 2011 dollars)
Number of Gifts
2008
108
2005
75
2000
37
1999
2000
2001
48
2001
2006
58
2004
51
2002
32
2003
30
2002
2003
2004
2005
2006
2009
78
2010
73
2011
77
2010
2011
2007
51
2007
2008
2009
2012
Dollar Amount of Gifts
2005
$1,660
2001
$1,450
2000
$1,040
1999
2000
2001
2006
$1,180
2002
$337
2003
$405
2004
$427
2002
2003
2004
2005
2006
2007
$477
2007
2008
$947
2008
2009
$1,240
2010
$287
2009
2010
2011
$534
2011
2012
Between 2000 and 2011, the overall trends in the number and dollar value of million-dollar-plus
gifts made to overseas organizations both exhibited a roller-coaster pattern over time (Figure 16).
•
Despite some ups and downs during the 12-year period, the number of gifts went up from
roughly 35 gifts annually in the early years to over 70 gifts annually in recent years. It
reached its peak at 108 gifts in 2008.
•
By contrast, the dollar amount of gifts fluctuated dramatically from year to year, with the
highest level at $1.66 billion in 2005 and the lowest point at $287 million in 2010.
49
•
In contrast to the large decline in both the number and dollar amount of gifts to U.S.based international organizations, the number of gifts to overseas organizations appeared
to be fairly stable after 2008. Although the dollar value of gifts dropped greatly by 77
percent from 2009 to 2010, the year 2011 saw a modest increase in the dollar amount of
gifts at $534 million.
Gifts by Type of Donor
Of the publicly announced million-dollar-plus gifts made to overseas organizations, about 70
percent came from foundations. Corporations and individuals together contributed about onefourth of gifts, while bequests and gifts from other grant-making nonprofits accounted for a very
small share (3 percent of the number and 6 percent of the dollar value).
When looking at the trends in gifts from different types of donors over time, foundations
contributed the largest number and the highest dollar amount in almost every year.
•
The year 2008 saw the largest number of gifts, at 94 gifts from foundations with a total of
$790 million.
•
The years 2005 and 2006 realized the highest dollar amounts, both at over $1 billion from
foundations.
•
The year 2001 witnessed a prominent jump in the dollar amount of gifts from other grantmaking groups, at $373 million with six gifts, four of which were granted by one
organization to Mexican organizations.
Distribution of Gifts to Overseas Organizations by Charitable Cause Supported
As million-dollar-plus gifts made to overseas organizations supported a wide range of charitable
causes, this study further examines the distribution of these gifts by the primary mission and
cause that recipient organizations support. More than half (57 percent of the number and 67
percent of the dollar value) of these gifts went to foreign human services, higher education, and
health organizations.
•
Foreign human services organizations received the largest number (21 percent) of gifts
made to overseas organizations, but they accounted for just 13 percent of the total dollar
amount.
•
Overseas higher educational institutions received 19 percent of gifts, representing 23
percent of the dollar amount.
•
Overseas health organizations received 17 percent of gifts but attracted the largest share
of gifts in dollar value (31 percent).
Impact of Macroeconomic Factors on the Number of Gifts
Million-dollar-plus gifts to overseas organizations are found to be unaffected by economic
conditions in the U.S.
50
IV. Methodology
The purpose of this study is to expand knowledge about charitable gifts at the million-dollar
level and above. Specifically, the study seeks to shed light on the following four questions:
1) How did million-dollar-plus gifts change from 2000 to 2011? How do the trends in these
gifts vary by type of donor and by type of nonprofit organization (such as health
organizations, educational institutions, environmental groups, etc.)?
2) Who gave million-dollar-plus gifts, and to which types of nonprofit organizations were
such donations given?
3) How did the economy influence million-dollar-plus gifts received by different types of
nonprofit organizations?
4) Which types of nonprofit organizations received more support from local donors?
To address these questions, this study analyzes publicly announced million-dollar-plus gifts from
U.S. sources (individuals, bequests, foundations, corporations, and other nonprofit groups) made
between 2000 and 2011. The final sample of the study contains 20,941gifts totaling $271 billion
made between 2000 and 2011. All dollar figures are adjusted for inflation to 2011 values.
Data
The study uses data from the Million Dollar List, a large database of charitable gifts at the
million-dollar level and above. Only publicly announced gifts on the Million Dollar List made
between 2000 and 2011 are included in the analysis, so gifts made by individuals and
organizations that did not release public announcements are not captured in the report. In the
Million Dollar List database, such gifts made by foundations and other nonprofit organizations
are often captured using information from organizations’ annual tax returns. However, because
tax returns do not specify the quarter in which the gifts were made, these gifts are excluded from
the analysis here in order to present a more accurate picture of the trends in million-dollar-plus
giving between 2000 and 2011. This exclusion also allows us to examine how giving at this level
is affected by economic changes on a quarterly basis.
It is important to note that a small share of gifts included in the analysis do not contain
information on the geographic location of the donor or the recipient. Among the total of 20,941
gifts analyzed in this report, less than 4 percent went to foreign organizations, and about 4
percent did not publicize the donor’s information. Excluding these anonymous gifts and gifts
flowing outside of the U.S., only 3 percent of gifts (600) made to U.S. organizations did not
contain the geographic information of the donor or the recipient. These gifts with missing
geographic information, totaling $5.8 billion, largely went to higher educational institutions and
human services organizations.
Analysis
The study conducts in-depth analysis of million-dollar-plus gifts, broken down by type of
nonprofit organization and by type of donor. Dr. Una Osili, Director of Research at the Indiana
University Lilly Family School of Philanthropy, oversaw analysis procedures.
51
To explore how million-dollar-plus gifts responded to changes in the economic climate between
2000 and 2011, the impact of five major macroeconomic indicators is analyzed separately in
statistical regressions. These factors are the Standard & Poor’s 500 Index (S&P 500), gross
domestic product (GDP) of the U.S., personal consumption expenditures, unemployment rate,
and recession. Please refer to the end of the report for a description of these variables. OLS
regressions are used to estimate the impact of each indicator on the number of gifts received per
quarter for two different time periods: during the same quarter, and during the previous quarter,
respectively. This analysis used the number of gifts, not the dollar value of gifts, because the
trends in the dollar value tend to be greatly driven by a few very large donations and may not
accurately reflect the impact of the economy on million-dollar-plus giving. Yearly and quarterly
variation is also controlled in the analysis.
Notes on Data Collected on the Million Dollar List
The Million Dollar List (MDL) is an ongoing project of the Indiana University Lilly Family
School of Philanthropy seeking to catalog and understand charitable gifts of $1 million or more
given by all U.S. sources and to all causes. Data collection began in 2000 and continues through
the present. The School uses a robust methodology to collect data from public announcements,
media outlets, reliable internet sources, and other publicly accessible sources.
It is important to note that this study is based on publicly announced million-dollar-plus gifts.
Nevertheless, not all nonprofit organizations disseminate their annual reports publicly. This is
especially important when capturing information about gifts to religious organizations and small
nonprofit organizations. Therefore, the School is in the process of validating the data collection
methodology for the MDL. Findings from this validation study will help to understand what
portion of $1 million and higher gifts are recorded on the MDL, what biases may exist in the data
collection methodology based on geography or subsector, and to what extent certain types of
gifts might be under- or over-represented in the data set.
It is also important to note that one should be cautious when comparing data from different
sources directly, because different sources often use different methodologies in data collection
and estimation. Given this, it is difficult to compare MDL data to Giving USA data side by side.
Unlike the MDL, Giving USA estimates rely on econometric methods using tax data, government
estimates for economic indicators, and information from other research institutions. Overall,
Giving USA provides a macroeconomic view, showing overall trends in total U.S. giving as well
as changes in giving by source and use. The MDL, on the other hand, can be considered a more
microeconomic look at giving, since it provides a snapshot of charitable gifts at the milliondollar level and above. 3
3
According to Giving USA 2012, total charitable giving in the U.S. is estimated to reach $298.42 billion in 2011. On
the MDL, nearly 1,800 gifts totaling $16.80 billion were made in 2011.
52
An Explanation of Types of Recipient Organizations
Arts, Culture, and Humanities
This category includes cultural and ethnic associations, media and communication organizations,
museums, historical societies, performing arts groups, and humanities organizations, as well as
relevant service, research, or advocacy organizations.
Education (Other)
This category includes all educational organizations other than higher educational institutions.
Examples of organizations included are elementary and secondary schools, vocational schools,
organizations offering educational services, and public libraries.
Environment
This category includes environmental and animal-related organizations; for example, groups
working for natural resources conservation and protection, pollution abatement or control,
animal rescue and welfare, or wildlife preservation; as well as zoos, aquariums, botanical
gardens, and parks. Organizations for environmental education, research, or advocacy and for
animal services are also included in this category.
Foundations
This category includes corporate foundations, independent (also called private, which includes
family) foundations, and operating foundations. Community foundations are included in another
category, public-society benefit, because these organizations are public charities, which are
structured differently from other foundations, and are closely tied to the community they serve.
Government
This category includes all U.S. governmental organizations that received million-dollar-plus
gifts. Some examples are Library of Congress, Department of Education, National Park Service,
Department of Cultural Affairs, and city councils.
Health
This category includes hospitals and medical care facilities, institutions providing support for
diseases, disorders, mental health or crisis intervention, and organizations offering medical
services, research, or advocacy. It is important to note that university-affiliated health
organizations are included in another category, higher education.
Higher Education
This category includes colleges, universities, and organizations that are affiliated with
universities, such as research institutes, medical research centers, and hospitals.
Human Services
The human services category contains organizations offering a broad range of programs and
social services, including crime prevention or legal services; employment assistance; food,
agricultural and nutrition programs; housing and shelter; public safety; disaster preparedness and
relief; recreations and sports; youth development; family and children’s services; and
53
independent living assistance. Certain large organizations, such as American Red Cross,
Salvation Army, and Volunteers of America, are included in this category.
International Affairs
This category includes U.S.-based nonprofit organizations that operate primarily outside of the
country, or organizations primarily focusing on international issues, such as international aid,
development, or relief; promotion of international understanding or international peace;
advocacy for international human rights; and research in foreign policy.
Overseas
This category includes all nonprofit organizations headquartered outside the U.S.
Public-Society Benefit
This category contains organizations working on several major types of causes, including civil
rights, social action and advocacy; community improvement and capacity building; research in
science and technology; public transportation and telecommunication services; public policy
research; consumer protection; and other issues related to public benefits.
Community foundations are also included in this category, because these organizations are
public charities, structured differently from other foundations, and closely tied to the community
they serve. Large organizations with combined purposes, such as the United Way and the Jewish
Federation, are included in this category.
Religion
This category includes all faith-based organizations whose primary mission is religion-related,
such as religious services, education, research, or media. Examples of organizations included are
churches, synagogues, religious schools, religious humanitarian aid organizations, and religious
community centers.
Various
This category includes all single donations that were made to more than one organization.
An Explanation of Macroeconomic Variables Used
Table 2 below presents the definition and source of each macroeconomic factor analyzed in the
report.
Table 2: Descriptions of macroeconomic factors
Macroeconomic
Factors
Standard & Poor’s
500 Index
(S&P 500)
Definition
The index uses the closing price on the last day of the
quarter. It represents the changes in stock market based on
the performance of the 500 largest capitalization stocks
trading in the United States.
54
Source
Yahoo! Finance
Macroeconomic
Factors
Definition
Source
Gross Domestic
Product
(GDP)
Gross domestic product (GDP) measures the value of final
goods and services produced in the United States in a given
period of time. The GDP measure is in 2005 dollar value.
U.S. Bureau of
Economic Analysis
Personal
Consumption
Expenditures Index
(PCE)
PCE includes goods and services purchased by individuals;
the operating expenses of nonprofit institutions serving
individuals; the value of food, fuel, or clothing; rent of
dwellings; the financial services received in kind by
individuals; and net purchases of used goods.
U.S. Bureau of
Economic Analysis
Unemployment Rate
Unemployment rate is the estimated percentage of
unemployed people aged 16 years and older.
U.S. Bureau of
Labor Statistics
Recession
Recession is identified by the NBER definition of
significant declines in economic activities, see:
http://www.nber.org/cycles/recessions.html
National Bureau of
Economic Research
Note: Dollar amount of MDL gifts is converted into 2005 dollar value for regression purposes; the descriptive
analysis of MDL gifts uses 2011 dollar values.
55
A Decade of Million-Dollar Gifts
A Closer Look at Major Gifts
by Type of Recipient Organization, 2000–2011
Appendix
April 2013
Sponsored by
CCS
Researched and Written by
Indiana University Lilly Family School of Philanthropy
Table of Contents
Gifts to Higher Educational Institutions ......................................................................................... 1
Gifts to Other Educational Institutions ........................................................................................... 3
Gifts to Arts, Culture, and Humanities Organizations .................................................................... 5
Gifts to Environmental Organizations ............................................................................................ 7
Gifts to Foundations ........................................................................................................................ 9
Gifts to Health Organizations ....................................................................................................... 11
Gifts to Human Services Organizations ........................................................................................ 13
Gifts to Public-Society Benefit Organizations .............................................................................. 15
Gifts to Religious Organizations................................................................................................... 17
Gifts to International Organizations.............................................................................................. 19
Gifts to U.S. Government Institutions .......................................................................................... 22
Gifts to Overseas Organizations ................................................................................................... 25
Impact of Economic Factors on the Number of Individual Gifts ................................................. 28
Gifts to Higher Educational Institutions
Figure 1: Number of million-dollar-plus gifts made to higher educational institutions, by donor
type, 2000–2011
516
530
513
487
485
Individuals
416
414
Foundations
342
358
317
252
316
249
342
333
334
308
Corporations
282
272
234
233
230
219
68
89
49
65
28
1999
2000
29
13
2001
46
23
2002
49
46
39
38
49
8
2003
Bequests
187
2004
53
65
14
2005
103
88
68
74
73
70
87
60
20
5
2006
1
2007
78
10
2008
2009
82
85
87
88
30
2010
Other Groups
25
2011
2012
Figure 2: Dollar amount of million-dollar-plus gifts made to higher educational institutions, by
donor type, 2000–2011 (in millions of inflation-adjusted 2011 dollars)
$5,670
Individuals
$4,990
$4,250
$4,340
$4,150
$4,270
Foundations
$3,860
$3,170
$3,410
$3,360
Corporations
$2,970
$2,700
$2,650
$2,570
$2,180
$1,760 $2,080
$1,550
$657
$427
$542
$414
$157
1999
2000
$1,620
$1,510
$629
$501
$301 $241
2001
2002
$38
$545
$238 $447
$398 $418
$546
$354
$68
$38
2003
$1,000
$813
$847
$412
$1,080
2004
2005
$403
$419 $225
2006
2
2007
2008
$1,140
$958
Other Groups
$601 $684
$399
$41
$639
$343
$187
2009
Bequests
$1,920
$1,780 $1,860
2010
$242
2011
2012
Gifts to Other Educational Institutions
Figure 3: Number of million-dollar-plus gifts made to other educational institutions, by donor
type, 2000–2011
110
98
Individuals
77
73
72
62
58
54
75
72
56
Foundations
Corporations
53
53
Bequests
40
35
35
31
29
23
17
18
13
14
1 1
1999
2000
2001
8
8
5
5
2003
2004
1
2002
18
16
13
22
19
4
23
21
6
3
3
2005
2006
3
10
9
7
2007
1
Other Groups
19
18
5
2008
18
16
17
9
1
3
4
2009
2010
2011
2012
Figure 4: Dollar amount of million-dollar-plus gifts made to other educational institutions, by
donor type, 2000–2011 (in millions of inflation-adjusted 2011 dollars)
$928
Individuals
$713
Foundations
$641
$606
$621
$611
Corporations
$498
$485
$479
$428
$356
$350
$344
$311
$278
$240
$202
$130
$76
$2
1999
2000
$29
2001
$82
$87
$62
$29
2002
$177
$226
2004
$100
$16
2006
4
$162 $183
$121
$104
$98
$95
$29 $51
$61
$11
$6
$14 $1 $18$1
$118
$104
$115
2005
$241
$234
$16 $23
$19
$14
$1 $15
2003
Bequests
2007
2008
2009
2010
2011
2012
Other Groups
Gifts to Arts, Culture, and Humanities Organizations
Figure 5: Number of million-dollar-plus gifts made to arts, culture, and humanities organizations,
by donor type, 2000–2011
106
89
Individuals
89
84
76
58
45
35
35
36
34
27
18
11
3
1
2001
5
3
1
2002
2003
7
Bequests
31
Other Groups
18
6
1
2004
41
34
39
29
29
17
12
2000
45
32
18
1999
Corporations
54
39
24
4
63
60
56
55
43
32
Foundations
2005
8
6
4
3
2006
2007
5
5
1
2008
7
15
10
2 4
1
2009 2010
2
2011
2012
Figure 6: Dollar amount of million-dollar-plus gifts made to arts, culture, and humanities
organizations, by donor type, 2000–2011 (in millions of inflation-adjusted 2011
dollars)
$1,420
Individuals
$1,060
Foundations
$912
Corporations
$662
$534
$561
$451
$492
$414
$387
$443
$533
$457
$489
$518
$464
$335
$334
$246
$42
$28
$13
$13
$39
$10
$8
1999 2000 2001 2002 2003
$69
$6
2004
Bequests
$430
$394
$318
$52
$561
$504
$161
$149
$179
$272
$277
Other Groups
$177
$213
$91
$81
$28
$66
$36
$15
$12
$17$17 $1
$6
$155
$15 $58
2005
$220
$5
2006 2007
6
2008
2009
2010
2011
2012
Gifts to Environmental Organizations
Figure 7: Number of million-dollar-plus gifts made to environmental organizations, by donor
type, 2000–2011
53
Individuals
43
38
Foundations
31
31
31
Corporations
25
24
22
20
14
9
7
3
1999
14
12
1
2000
2
8
2
2001
2
2002
9
9
4
4 4
8
15
14
2004
13
8
6
3
4
2005
2006
3
7
2007
1
3
2008
Bequests
15
Other Groups
10
9
1
2003
21
1
5
5
1
2009
2
7
3
2010
3
1
2011
2012
Figure 8: Dollar amount of million-dollar-plus gifts made to environmental organizations, by
donor type, 2000–2011 (in millions of inflation-adjusted 2011 dollars)
$580
Individuals
Foundations
Corporations
$281
$231
$211
$180
$173
$146
$128
Bequests
$164
$120
Other Groups
$97
$92 $91
$70 $85
$73
$66
$68
$70
$59
$53
$51
$46
$22
$18
$33
$19
$12
$18
$13 $12 $32
$19
$12
$14
$10
$9
$9
$8 $9 $3
$3 $2 $2 $4 $2 $5 $4
$2
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
$109
$98
8
Gifts to Foundations
Figure 9: Number of million-dollar-plus gifts made to foundations, by donor type, 2000–2011
14
12
12
Individuals
11
10
Foundations
9
8
9
9
8
8
6
6
5
5
5
4
3
2
1 1
1999
2000
3
4
3
3
3
3
1 1
2003
2004
2005
5
2006
9
Bequests
5
4
4
Other Groups
3
2
2
1 1
2002
5
4
2
2001
Corporations
7
7
7
1
1
2007
2008
2 2
1
2009
2010
2011
2012
Figure 10: Dollar amount of million-dollar-plus gifts made to foundations, by donor type, 2000–
2011 (in millions of inflation-adjusted 2011 dollars)
$43,000
Individuals
Foundations
Corporations
Bequests
Other Groups
$13,300
$7,620
$4,470
$3,800
$2,630
$1,900
$1,520
$1,510
$3,070
$942$844
$230 $625 $1,470
$38
$115
$79 $526 $164 $118
$23
$689$11
$675 $49
$66
$20 $6
$16
$10
$8 $15 $11
$8 $8
$3 $90
$23 $43$71 $10$68 $5 $7
$2 $14
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
$1,440
1999
$5,430
10
Gifts to Health Organizations
Figure 11: Number of million-dollar-plus gifts made to health organizations, by donor type,
2000–2011
103
Individuals
79
76
27
26
22
23
21
11
2000
2
4
2001
3
6
2
2002
2003
5
4
2004
6
2
1
4
3
2005
2006
2007
2008
11
30
25
16
8
Bequests
26
17
13 13
11
26
Corporations
54
51
44
40
29
27
1999
56
48
37
Foundations
65
62
54
51
6
77
67
66
7
78
12
9
14
2009
6
Other Groups
12
11
2010
2011
10
2012
Figure 12: Dollar amount of million-dollar-plus gifts made to health organizations, by donor type,
2000–2011 (in millions of inflation-adjusted 2011 dollars)
$1,680
$1,620
Individuals
Foundations
$979
Corporations
$795
$751
$681
$600
$438
$371
$148
$352
$216
$243
$557
$614
$531
$551
$412
$411
$246
Bequests
$428
$288
$332
$188
$158
Other Groups
$201
$177
$189
$98
$113
$75
$101 $44
$61
$72
$77
$27
$42
$37
$38
$27
$23 $5$49
$16 $14 $3 $14
$25
$22
$16
$13
$14
$32
$2
$8
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
$71 $116
12
Gifts to Human Services Organizations
Figure 13: Number of million-dollar-plus gifts made to human services organizations, by donor
type, 2000–2011
194
171
Individuals
Foundations
Corporations
89
78
78
65
35
32
11 11 14
6
1
2
1999
2000
2001
6
4
2
2002
62
61
55
49
37
583
2003
37
28
1
8
2
2004
37
12
2
2005
48
23
22
3
49
42
2006
13
45
43
28
24
5
Bequests
7
2
2007
3
10
28
17
13
5
2008
3
Other Groups
4 4
2009
6 8
2010
6
2011
2012
Figure 14: Dollar amount of million-dollar-plus gifts made to human services organizations, by
donor type, 2000–2011 (in millions of inflation-adjusted 2011 dollars)
$1,790
Individuals
Foundations
Corporations
Bequests
$662
Other Groups
$550
$504
$411
$196
$324
$290
$309
$351
$239
$188
$161
$163
$161
$108
$127
$90
$120 $109 $110
$113
$156
$96
$81
$75 $91
$94 $68 $26
$57
$31 $55 $33
$49
$50
$31
$15
$24
$31$6 $11
$25
$3 $10 $12$8 $9 $13 $11$11 $21
$18
$4
$1 $8
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
$189
$181
14
Gifts to Public-Society Benefit Organizations
Figure 15: Number of million-dollar-plus gifts made to public-society benefit organizations, by
donor type, 2000–2011
155
Individuals
122
110
110
110
Foundations
91
Corporations
82
80
76
65
63
Bequests
54
45
37
26
9
1999
2
1
2000
26
20
25
18
1
2001
15
9
3
1
2002
2
14
7
2003
2
12
9
2004
22
13
1
2005
28
24
16
15
24
7 8
3
3
2006
2007
15
Other Groups
31
20
8
2008
25
16
8
7
2009
26
16
14
11
1
2010
2011
17
14
2012
Figure 16: Dollar amount of million-dollar-plus gifts made to public-society benefit
organizations, by donor type, 2000–2011 (in millions of inflation-adjusted 2011
dollars)
$945
Individuals
$767
$691
Foundations
$614
$551
$529
Corporations
$489
$380
$331
$273
$253
$279
$372
$343
Bequests
$281
$292
$237
$237
$268
$203
$173
$146
$118 Other Groups
$99
$140
$119
$138
$127
$113
$105
$98
$100
$92
$62
$84
$77
$76
$74
$88
$58
$75
$48
$45
$16
$36
$27
$17
$17
$9
$6
$3
$3 $14 $2
$2
$1
$1
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
$163
$177
16
Gifts to Religious Organizations
Figure 17: Number of million-dollar-plus gifts made to religious organizations, by donor type,
2000–2011
13
Individuals
11 11
Foundations
7
7
Corporations
7 7
6
5
4 4
33
44
1
1999
1
2000
1
1
2001
2002
3
3
2
2003
5
5
Bequests
3
Other Groups
4
4
3
2
5
5 5
5
2
1
1
1
1
1
2004
2005
2006
2007
2008
17
2009
1 1 1
1
2010
2011
2012
Figure 18: Dollar amount of million-dollar-plus gifts made to religious organizations, by donor
type, 2000–2011 (in millions of inflation-adjusted 2011 dollars)
$215
Individuals
Foundations
$115
Corporations
$82
$87
$78
Bequests
$47
$16
$4
1999
2000
$16
$16
$6 $6 $5
2001
2002
$39
2003
$33
$18
$10
$1
2004
$83
$43
$29
$25
$14
$7
$62
$55
$3
$8 $7
2005
$1
2006
18
$1 $1
2007
2008
$27
Other Groups
$31
$15
$12
$12 $10
$5
$8
$2
$1 $1
2009
2010
2011
2012
Gifts to International Organizations
Figure 19: Number of million-dollar-plus gifts made to international organizations, by donor
type, 2000–2011
63
Individuals
51
44
Foundations
41
36
Corporations
33
31
27
23
22
21
19
23
22
17
15
9
5
4
1999
2000
5
2
2001
4
2
1
2002
3
2 3
2 3
1
1 1
2003 2004 2005
Bequests
21
10
7
Other Groups
9
2 3
1
2006
19
4
2007
6
3
2008
1
2009
5
3
2010
4
2011
2012
Figure 20: Dollar amount of million-dollar-plus gifts made to international organizations, by
donor type, 2000–2011 (in millions of inflation-adjusted 2011 dollars)
$729
$660
Individuals
$618
$611
$588
Foundations
$418
$387
$363
Corporations
$363
$360
$257
$191
$210
$189
Bequests
$172
$168
$119
$93
$27
1999
2000
$5
2001
$21
$4
$20
2002
$37
$35
2003
$30
$75
$6
$5
$4 $12
2004
2005
$74
$53
$69
$35
$3
2006
20
$43
$5
2007
$122
$60
$3
2008
2009
$84
$55
Other Groups
$74
$41
$4
2010
2011
2012
Figure 21: Distribution of million-dollar-plus gifts made to international organizations, by
charitable cause supported (in millions of inflation-adjusted 2011 dollars)
Dollar Amount of Gifts
Number of Gifts
Human Services
Human Services
213, 35%
Public/Societal
Benefit
Public/Societal
Benefit
160, 26%
25, 4%
17, 3%
11, 2%
200
150
100
$2,911, 39%
Education
Education
36, 6%
$1,095, 15%
Health
Health
138, 22%
250
$2,244, 30%
$219, 3%
Environment Environment
$153, 2%
Foundations
Foundations
$162, 2%
Higher Education
Higher Education
$115, 2%
7, 1%
Various
6, 1%
Arts, Culture, & Humanities
$32, 0%
2, 0%
Religion
$10, 0%
50
Various
$550, 7%
Religion
0
$0
21
$500 $1,000$1,500$2,000$2,500$3,000$3,500
Gifts to U.S. Government Institutions
Figure 22: Number of million-dollar-plus gifts made to government institutions, by donor type,
2000–2011
18
16
15
Individuals
14
13
Foundations
11
10
9
9
9
Corporations
9
8
6
6
4
3
3
2
2
2
2
3
2
1 1
1
1999
2000
2001
4
5
4
4
3
3
2
2
2
2
4
3
3
Bequests
6
2002
2003
2004
2005
2006
22
2007
1
2008
Other Groups
2
1
2009
2010
1
2011
2012
Figure 23: Dollar amount of million-dollar-plus gifts made to government institutions, by donor
type, 2000–2011 (in millions of inflation-adjusted 2011 dollars)
$315
Individuals
$208
Foundations
$206
$195
$196
Corporations
$119
Bequests
$91
$80
$84
$69
$82
$50
$43
$5
1999
2000
2001
$4
$6
2002
$23
2003
$17
$13
2004
$14
$3
2005
$45
$45
$43
2009
2010
2011
Other Groups
$25
$31
$24
$10
$20 $13 $8
$8
$10
$4
$2
$4 $6 $7
$2 $2 $1 $2
$1
$27
2006
23
2007
2008
2012
Figure 24: Distribution of million-dollar-plus gifts made to government institutions, by charitable
cause supported (in millions of inflation-adjusted 2011 dollars)
Number of Gifts
Dollar Amount of Gifts
Education
Education
53, 23%
$647, 30%
Human Services
Human Services
44, 19%
Environment Environment
33, 14%
Public/Societal
Benefit
Public/Societal
Benefit
30, 13%
Various
Various
Health
Health
$80, 4%
Arts,
Arts,Culture,
Culture,&&Humanities
Humanities
$87, 4%
9, 4%
40
30
20
10
$198, 9%
$562, 26%
Higher Education
Higher Education
4, 2%
50
$380, 18%
30, 13%
28, 12%
60
$168, 8%
$40, 2%
0
Foundations Foundations
$0
0
Religion
$0
Religion
0
$0
24
$100 $200 $300 $400 $500 $600 $700
Gifts to Overseas Organizations
Figure 25: Number of million-dollar-plus gifts made to overseas organizations, by donor type,
2000–2011
94
Individuals
71
Foundations
Corporations
47
47
34
30
34
19
1999
5
1 1
64
4
2000
2001
1
2
2002
6
Bequests
27
Other Groups
20
17
8
4
3
2003
2004
1
37
32
31
29
40
6
10
4
1
1
2005
2006
25
2
4
5
2007
1
3
2008
1
4
2
2009
5 6
1
2010
5
2
2011
2012
Figure 26: Dollar amount of million-dollar-plus gifts made to overseas organizations, by donor
type, 2000–2011 (in millions of inflation-adjusted 2011 dollars)
$1,150
$1,040
Individuals
$790
Foundations
$791
$703
$618
Corporations
$380
$410
$373
$325
Bequests
$384
$344
$268
$262
$201
$188
$125
$20
1999
$46
2000
$80
2001
$114
$9 $21 $28
$12
$3
2002 2003 2004
$230
$87
$95
$33
$12
2005
$29
$10
2006
26
$98
$59
$50
$14 $1
2007
2008
$198
Other Groups
$126
$64
$50
$13 $8$30 $25
2009 2010 2011 2012
$63
Figure 27: Distribution of million-dollar-plus gifts made to overseas organizations, by
charitable cause supported (in millions of inflation-adjusted 2011 dollars)
Dollar Amount of Gifts
Number of Gifts
150, 21%
Human Services
Human Services
Higher Education
Higher Education
136, 19%
Health
124, 17%
$3,069, 31%
100
80
$1,065, 11%
$1,540, 15%
35, 5%
Education
Education
$171, 2%
35, 5%
Environment Environment
$116, 1%
Government Government
$189, 2%
26, 4%
120
Health
International International
68, 9%
140
$2,282, 23%
Public/Societal
Benefit
Public/Societal
Benefit
111, 15%
160
$1,273, 13%
60
11, 2%
Foundations
10, 1%
Arts, Culture, & Humanities
$147, 1%
6, 1%
Religion
Religion
$77, 1%
6, 1%
Various
Various
$11, 0%
40
20
0
Foundations
$45, 0%
$0
27
$1,000
$2,000
$3,000
$4,000
Impact of Economic Factors on the Number of Individual Gifts
Independent
Variables:
Economic
Indicators
Dependent Variables: Number of Individual Million-Dollar-Plus Gifts
Higher
Education
Education
Arts
Environment Foundations Health
PublicHuman
Society
Services
Benefit
Religion
International Overseas
S&P 500
0.1117
0.0102
0.0180
0.0078
(0.0309)*** (0.0039)** (0.0066)*** (0.0041)*
0.0069
(0.0027)**
0.0033
0.0050
0.0067
-0.0003
(0.0049) (0.0061) (0.0050) (0.0016)
-0.0010
(0.0025)
0.0003
(0.0021)
S&P 500
(lagged)
0.1258
(0.0554)**
0.0143
0.0155
-0.0009
(0.0057)** (0.0068)** (0.0051)
0.0041
(0.0042)
0.0106
0.0031
0.0086
0.0017
(0.0084) (0.0106) (0.0050)* (0.0021)
0.0041
(0.0017)**
-0.0001
(0.0015)
GDP
0.1278
(0.0400)**
0.0128
0.0137
0.0126
(0.0053)** (0.0057)** (0.0065)*
0.0058
(0.0044)
0.0035
0.0034
0.0043
-0.0006
(0.0054) (0.0056) (0.0050) (0.0011)
0.0004
(0.0081)
-0.0043
(0.0029)
GDP (lagged)
0.0727
(0.0645)
0.0118
(0.0081)
0.0078
(0.0070)
-0.0048
(0.0020)**
-0.0011
(0.0024)
0.0067
0.0018
-0.0045 0.0027
(0.0075) (0.0090) (0.0068) (0.0017)
0.0018
(0.0008)**
-0.0001
(0.0009)
PCE
12.4930
(4.7234)**
1.6740
(0.8426)*
1.5820
(0.9079)*
0.9948
(0.7908)
0.1439
(0.5022)
0.0092
0.7098
0.2577
-0.0945
(0.6379) (0.7676) (0.8707) (0.1212)
1.0046
(0.5499)*
-0.2696
(0.4041)
PCE (lagged)
16.6871
(7.9269)**
2.0876
(1.0985)*
1.8159
(1.0276)*
-0.8520
(0.4418)*
0.2129
(0.4019)
1.4897
0.2811
-0.2067 0.3425
(1.0638)
(0.8978)
(1.1112) (0.3686)
0.3672
(0.1353)**
0.0854
(0.1352)
-2.6332
Unemployment -31.2540
(10.4057)*** (1.2997)*
Rate
-3.2401
-1.7300
(1.4175)** (1.8182)
-0.6599
(0.7864)
0.1216
-2.1080 -0.4997 -0.1056
(1.7440) (1.2240)* (1.2564) (0.3134)
-0.5567
(0.7399)
0.3467
(0.5553)
Unemployment -18.8314
Rate (lagged) (15.7962)
-1.0721
(1.2875)
-2.1250
(1.4389)
0.4488
(0.3769)
0.1420
(0.4668)
-0.3943 -2.5170 0.8334
-0.8050
(1.2972) (1.2375)* (1.4320) (0.5037)
-0.5272
(0.1399)**
-0.0168
(0.2282)
Recession
-1.3086
(16.0276)
-1.0988
(1.3722)
-1.4198
(2.4152)
-2.5451
(1.1520)**
-2.1563
(0.8802)**
2.9630
-0.7599 -2.7432 -1.0443
(2.9091) (5.0367) (2.1604) (1.7140)
0.2500
(0.8611)
0.1910
(0.2948)
Recession
(lagged)
-16.5335
(29.4371)
-0.8233
(1.0500)
-1.0497
(3.2797)
-0.5349
(1.2934)
0.7697
(1.7594)
0.1201
-0.3845 -1.3722 -0.5000
-0.3859
(2.1447) (1.6994) (2.4548) (0.0168)*** (0.5457)
-0.1515
(0.2527)
28
Notes: Each economic factor is included as independent variable in a separate regression. The coefficients on economic indicators are reported in the table, with
robust standard errors presented in parenthesis.
S&P 500: Standard & Poor’s 500 Index
GDP: Gross Domestic Product
PCE: Personal consumption expenditures
Recession: A quarter with at least one month of recession
Lagged variables represent economic indicators lagged one quarter
Individual gifts made to government institutions are not presented here because the sample size is too small for regression analysis.
*** Indicates statistical significance of 0.01 or at the 99 percent confidence level
** Indicates statistical significance of 0.05 or at the 95 percent confidence level
* Indicates statistical significance of 0.1 or at the 90 percent confidence level
29