June 21, 2011
Donations to the arts began to rebound in 2010, with an estimated 5.7% increase after a combined drop of 8.2% in the deep recession years of 2008 and 2009, according to the annual report on American philanthropy issued Monday by the Giving USA Foundation. Factoring in inflation, the gain in arts giving was 4.1%.
Estimated largess to the arts, culture and humanities totaled $13.3 billion, up from $12.6 billion in 2009 and 12.8 billion in 2008. But gifts to the arts sector still had not rebounded all the way, falling short of the $13.7 billion prerecession peak of 2007. Americans’ estimated overall charitable giving was $291 billion for 2010, with the arts and culture receiving about 4.6% of the total. Total inflation-adjusted charitable giving remained 11% short of its prerecession peak of about $327 billion.