Philanthropists Get Back to Giving "Big Gifts"
Last year marked the comeback of "big gifts," as charitable giving from America's wealthiest philanthropists totaled to more than $3.4 billion, according to a report from The Chronicle of Philanthropy.
Fourteen Americans donated gifts of $100 million or more in 2013 compared with the 11 who did so the year prior. Colleges and universities were the main beneficiaries of gifts in 2013, as 12 of the 15 largest donations went to institutions of higher education.
The largest donation to a healthcare institution was David Koch's $100 million to NewYork-Presbyterian Hospital in New York City. Further coverage on the top gifts to healthcare organizations can be read here.
Mark Zuckerberg and his wife Priscilla Chan were the biggest givers of the year, providing 18 million shares of Facebook stock — valued at approximately $992 million — to the Silicon Valley Community Foundation. That also marks the first time donors under the age of 30 have made the biggest contribution.
The top gifts in 2010 and 2011 did not exceed $300 million, compared to this year's nearly $1 billion. The 2012 list of top gifts included three — $1 billion apiece — from Warren Buffett, who donated the sums to his children's foundations. When that $3 billion is excluded, the other biggest gifts of the year totaled $2 billion.
Still, the wealthiest philanthropists did not give as much in 2013 as before the Great Recession, according to the report. In 2007, the biggest gifts totaled $4.1 billion.
More Articles on Charitable Giving:
10 Largest Donations From Individuals to Hospitals in 2013
8 Healthcare Fundraising Activities That Earn Most Charitable Dollars
Philanthropy's Important Role in the Transition to Accountable Care Organizations
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