How Charitable Giving Fared After National Crises

HOW CHARITABLE GIVING FARED AFTER NATIONAL CRISES

Political turmoil, military confrontations, and economic turbulence can all affect what types of charities Americans support–but they generally do not cause a drop in the total amount donated to charity, according to a study by the Center on Philanthropy at Indiana University for the Giving USA Foundation. However, giving did not keep pace with inflation after major economic downturns, such as the 1973 oil embargo, the 1987 stock-market collapse, and the 2001 terrorist attacks.

Fall of France (May 1940)
	Percentage change
1939	Gross domestic product		8.1%
	Charitable giving		20.2%
1940	Gross domestic product		8.5%
	Charitable giving		46.8%
1941	Gross domestic product		17.1%
	Charitable giving		36.3%
Percentage change in stock market
Day before to day after		-2.2%
After 30 days		-24.5%
After 365 days		-20.9%
Pearl Harbor (December 1941)
	Percentage change
1940	Gross domestic product		8.5%
	Charitable giving		46.8%
1941	Gross domestic product		17.1%
	Charitable giving		36.3%
1942	Gross domestic product		18.4%
	Charitable giving		46.0%
Percentage change in stock market
Day before to day after		-3.5%
After 30 days		-3.0%
After 365 days		-0.7%
Korean War (June 1950)
	Percentage change
1949	Gross domestic product		8.1%
	Charitable giving		20.2%
1950	Gross domestic product		8.5%
	Charitable giving		46.8%
1951	Gross domestic product		17.1%
	Charitable giving		36.3%
Percentage change in stock market
Day before to day after		-4.7%
After 30 days		-8.9%
After 365 days		9.8%
John F. Kennedy (November 1963)
	Percentage change
1962	Gross domestic product		6.0%
	Charitable giving		1.2%
1963	Gross domestic product		4.3%
	Charitable giving		11.0%
1964	Gross domestic product		5.9%
	Charitable giving		3.5%
Percentage change in stock market
Day before to day after		1.5%
After 30 days		3.8%
After 365 days		20.4%
Arab oil embargo (October 1973)
	Percentage change
1972	Gross domestic product		5.4%
	Charitable giving		4.3%
1973	Gross domestic product		5.8%
	Charitable giving		4.7%
1974	Gross domestic product	-0.6%
	Charitable giving		5.0%
Percentage change in stock market
Day before to day after		0.1%
After 30 days		-10.9%
After 365 days		-30.9%
Nixon resigns (August 1974)
	Percentage change
1973	Gross domestic product		5.8%
	Charitable giving		4.7%
1974	Gross domestic product	-0.6%
	Charitable giving		5.0%
1975	Gross domestic product	-0.4%
	Charitable giving		6.3%
Percentage change in stock market
Day before to day after		-1.3%
After 30 days		-15.8%
After 365 days		6.6%
Stock-market collapse (October 1987)
	Percentage change
1986	Gross domestic product		3.4%
	Charitable giving		16.1%
1987	Gross domestic product		3.4%
	Charitable giving	-1.3%
1988	Gross domestic product		4.2%
	Charitable giving		7.1%
Percentage change in stock market
Day before to day after		-18.1%
After 30 days		-15.6%
After 365 days		-4.9%
Gulf War ultimatum (January 1991)
	Percentage change
1990	Gross domestic product		1.8%
	Charitable giving		3.0%
1991	Gross domestic product	-0.5%
	Charitable giving		3.6%
1992	Gross domestic product		3.0%
	Charitable giving		5.1%
Percentage change in stock market
Day before to day after		0.6%
After 30 days		1.5%
After 365 days		17.6%
World Trade Center bombing (February 1993)
	Percentage change
1992	Gross domestic product		3.0%
	Charitable giving		5.1%
1993	Gross domestic product		2.7%
	Charitable giving		5.6%
1994	Gross domestic product		4.0%
	Charitable giving		2.3%
Percentage change in stock market
Day before to day after		-0.5%
After 30 days		1.9%
After 365 days		13.0%
Oklahoma City bombing (April 1995)
	Percentage change
1994	Gross domestic product		4.0%
	Charitable giving		2.3%
1995	Gross domestic product		2.7%
	Charitable giving		4.1%
1996	Gross domestic product		3.6%
	Charitable giving		11.7%
Percentage change in stock market
Day before to day after		1.2%
After 30 days		3.9%
After 365 days		32.5%
Attacks of September 11 (September 2001)
	Percentage change
2000	Gross domestic product		3.7%
	Charitable giving		9.6%
2001	Gross domestic product		0.8%
	Charitable giving	-2.2%
2002	Gross domestic product		1.6%
	Charitable giving	-0.6%
Percentage change in stock market
Day before to day after		-7.1%
After 30 days		-2.0%
After 365 days		-10.7%
Indian Ocean tsunamis (December 2004)
	Percentage change
2003	Gross domestic product		2.7%
	Charitable giving	-1.0%
2004	Gross domestic product		4.2%
	Charitable giving		2.3%
2005	Gross domestic product		3.6%
Percentage change in stock market
Day before to day after		-0.5%
After 30 days		-3.0%
After 365 days		n/a
SOURCE: Giving USA Foundation/Indiana University Center on Philanthropy