Poll Shows Charitable Giving Trends

Staten Island business bank underscores findings about donations

 

 

STATEN ISLAND, N.Y. – As folks approach the home stretch for tax-return filings, they likely have been compiling a list of their own charitable donations and maybe wondered what other Americans are giving.

 

Victory State Bank, Staten Island's only community-based commercial bank, shares timely findings from a poll identifying donation trends.

 

Last summer, a Harris poll determined that nine out of 10 Americans (91 percent) made some sort of contribution within the previous two to three years, with money only the second most common type of giving (66 percent), after used clothing (73 percent).

It also uncovered insights for the recipient charities, as well: Some disconnects exist between where Americans feel charities should focus efforts and which causes the donors prioritize for themselves.

Charitable donations rose in 2013, the first growth seen since the 2008 recession. But of course, measurements like this typically track monetary giving—just one of the ways Americans can contribute to their selected causes.

 

Slightly more than half of U.S. adults gave food (53 percent) within that time frame, while four in 10 gave time or labor (41 percent) and nearly two in 10 gave blood (18 percent).

Nearly half (45 percent) gave some other type of used item, 4 percent made some other sort of medical or genetic donation, and 7 percent gave something else entirely.

As an aside, the bank observes that the IRS says blood isn't deductible, nor is labor, although mileage to volunteer such labor is allowed.

 

Some differences exist in how various groups of Americans are giving:

§         Older Americans are more likely to have given used clothing (64 percent Millennials, 70 percent Gen Xers, 79 percent Baby Boomers and 90 percent Matures), money (58 percent, 65 percent, 70 percent and 82 percent), food (50 percent, 49 percent, 58 percent and 61 percent), and other used items (32 percent, 42 percent, 53 percent and 65 percent).

§          Younger Americans, meanwhile, are more likely to have given blood (20 percent, 23 percent, 14 percent and 11 percent) or made other medical or genetic donations (6 percent, 4 percent, 1 percent and 3 percent).

§         Republicans (73 percent) are more likely than either Democrats (64 percent) or Independents (65 percent) to have given money within the past two to three years.

§        Women are more likely than men to have given used clothing (82 percent vs. 64 percent), food (60 percent vs. 47 percent) or other used items (50 percent vs. 40 percent).

 

 

About Victory State Bank

VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office is in the community of Great Kills, and branches are in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.

 

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