Community Foundation Giving Way Up

June 24, 2020

Market downturns often have a negative impact on charitable giving, and that has certainly been the case so far this year. As the Dow shed more than one third of its value in March, the Association of Fundraising Professionals reports that individual giving declined by 6 percent in the first quarter. Were that trend to continue through 2020, the Association extrapolated, nonprofit organizations would see a loss in revenue above $25 billion.

However, at the Community Foundation of New Jersey we saw the opposite happen. Giving from donor advised funds – whose assets are committed exclusively for philanthropy – jumped above $9 million in April 2020 compared to $2.1 million in April 2019. In fact, from March through May of 2020, nearly $27.5 million flowed from donor advised funds at the Community Foundation of New Jersey to nonprofit organizations, compared to $18 million for the same time period last year. This speaks to the value and foresight of setting aside philanthropic dollars throughout the year. By combining the available resources in our communities, including the Community Foundation of New Jersey’s own and those of our donor advised fundholders, we’re able to multiply the impact we have and fill deep gaps at a critical time.