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Mon 11 Nov 2008Philanthropic donations 'surprisingly resilient' despite market crisis - report
IN TIMES of recession, wealthy individuals who find they are no longer able to make money start to think about giving it away.
That's not just wishful thinking. According to a new report aimed at the non-profit sector, philanthropic donations have proven "surprisingly resilient" to stock market crises, with rates of philanthropy in the US actually rising after financially traumatic events such as the bombing of Pearl Harbour in 1941, the oil crisis of 1973 and the September 11th terrorist attacks in 2001.
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