Charitable Giving Down In US For First Times In 12 Years

“Private contributions to US charities declined last year for the first time in 12 years, according to an annual survey of the 400 largest charities in the country. The report, compiled by the Chronicle of Philanthropy, indicated that donations in 2002 fell 1.2% (adjusted for inflation) compared with an average gain of 12% during the previous five years. The total dipped to $46.9 billion from $47.5 billion the previous year.” And how’d the arts do? Down 26 percent, says the report, but the drop is exagerated because of big one-time gioftes recorded the year before.