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January 13, 2017

Report: CT charitable giving dips

By Matt Pilon

Charitable donations by Connecticut foundations, companies and individuals dipped 3.2 percent from 2013 to 2014, according to an annual analysis by the Connecticut Council for Philanthropy.

CCP's latest report [view a PDF here] found that philanthropic giving in the state totaled $4.51 billion in 2014 (the most recent year for which data is available), down from $4.66 billion in 2013.

While the largest category of givers -- individuals -- donated more in 2014, there was a steep decrease in bequests, a more unpredictable category that fluctuates year to year.

Of the $4.51 billion, $3.48 billion came from individuals and $1.02 billion came from foundations. Meanwhile, bequests totaled $90 million, down from $350 million. It was the lowest level of bequests since 2011.

CCP, while relies on IRS data, said it is a challenge to compile accurate philanthropy data at the state level, since data doesn’t account for residents who don’t itemize their tax returns. If all donors were able to be counted, CCP estimates that individual giving could have actually exceeded $5.7 billion in 2014.

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