Chronicle - Giving to Colleges Declines Nearly 6 Percent

The Chronicle of Higher Education recently reported that giving to colleges and other charities declined by nearly 6 percent, the steepest decline in the history of the survey which began in 1956. Below are some highlights, please visit the website for more details.

• Individuals donated $229.3-billion last year, a decrease of 6.3 percent. Giving through bequests also dropped: $22.7-billion was contributed through people’s wills, a 6.4-percent decline. Altogether, gifts from individuals, including bequests, accounted for 82 percent of all charitable giving in 2008.


• Corporate donations totaled $14.5-billion in 2008, an 8-percent decrease, accounting for 5 percent of all giving.


• Foundation grants decreased only slightly, 0.8 percent. They totaled $41.2-billion. Grants from private, community, and operating foundations made up 13 percent of the total contributed to charity last year.

CBPP - State Budget Troubles Worsen

The Center on Budget and Policy Priorities released a report which discussed the fiscal stress currently being experienced by state governments. Below are some highlights, you can get the entire article here. (PDF is available here)

• At least 48 states addressed or still face shortfalls in their budgets for the upcoming year.


• Even before the new fiscal year starts July 1, new shortfalls of $23 billion have opened up in the adopted 2010 budgets of at least 12 states and the District of Columbia. Shortfalls for fiscal year 2010 – those already addressed and those still open -- total $166 billion.


• At least 29 states have prepared estimates for the 2011 fiscal year. Initial estimates of these shortfalls total almost $38 billion. As the full extent of 2011 deficits become known, shortfalls are likely to equal $160 to $180 billion.


• Combined budget gaps for the remainder of this fiscal year and state fiscal years 2010 and 2011 are estimated to total over $350 billion.