Americans set record for charity in 2006: report


Powered by large individual gifts from wealthy individuals like Warren Buffett, charitable giving by Americans rose 4.2% to $295.02 billion in 2006, setting a record for the third-straight year, The Wall Street Journal reported on Monday. 

In a reversal of recent trends, gifts to arts, cultural and humanities organizations rose 9.9% to $12.51 billion last year, the biggest percentage change since 2000, according to the report. The report quoted Eugene R. Tempel, executive director of the Center on Philanthropy at Indiana University as saying that the increase partly reflects the growing number of high-net-worth households, which typically give a bigger percentage of their income to the arts. Charitable giving last year made up about 2.2% of the nation's GDP, roughly consistent with the previous year.

Led by Buffett, who gave $1.9 billion in 2006, gifts from individuals continued to comprise the bulk of donations, rising 4.4% to $222.89 billion, or 75.6% of the total, said the report. However, giving to human services fell 9.2% to $29.56 billion, while giving to international affairs also fell 9.2% to $11.34 billion, reflecting the lack of major natural disasters that helped drive up giving to record levels in the two prior years. (


Industries lose billions on counterfeit products Analysis

Industries lose billions on counterfeit products

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.