In the midst of a severe economic depression, philanthropy is surprisingly more popular than ever. Giving USA 2009 noted that “charitable giving in the United States exceeded $300 billion for the second year in a row in 2008.” Though financial realities created a decrease from 2007’s figures, the amount given was considered “remarkable” by Giving USA chairwoman Del Martin and represented just a two percent decrease in current dollars.
Some facts about philanthropy today, from “The new face of giving” (USA Today 7 October 2008):
• Younger donors, especially in their 20s and 30s, are making an impact on the giving landscape. Though without the financial power of their older counterparts, they contribute “earlier, more consistently and in more imaginative ways than their grandparents did.”
• Among this younger set, environmental and international causes have gained an unprecedented amount of popularity in the current decade.
• The internet and text messaging has made it possible for charities to directly communicate with potential contributors and raise donations. Only six percent of households gave online in 2007, though these newer tools have made an impact.
The most important point noted, however, is that philanthropists want to know what is being done with their money. This has made an impact in ways ranging from donors spending more time directly volunteering with projects, charities using the internet to show what is being done with the money they receive, and even the formation of “giving circles” where members decide what causes they want to support.
The contrast between the immense desire of potential donors to give and their uncertainty over where their money will go emphasizes the need for a framework of accountability and transparency. Through creating a platform where philanthropists and charities can connect and communicate, the Genesis Network hopes to make an impact on giving in the 21st century.