Million dollar individual giving ‘slowed down but not stopping’ in late 2008

According to the Million Dollar List compiled by the Center on Philanthropy at Indiana University, there were 33 per cent fewer gifts of $1 million or over from individuals in the US in the last six months of 2008 than in the same period of 2007. For the year overall, however, the numbers for 2008 were 4 per cent higher than for 2007. ‘Stock market declines and the credit crisis have slowed giving of large gifts, but have not stopped it,’ suggests Patrick Rooney, interim executive director of the Center. ‘The numbers for the last half of 2008 show that wealthy donors appear to be thinking carefully about how much to give and when in this economy.’

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