United States: Federal Reserve promises to help charities

The US central bank is preparing a loan program for nonprofit organizations, whose finances are drained by the coronavirus crisis. A movement calls on rich donors to allocate their already tax-exempt money, which lies dormant in certain funds.

A Catholic charity distributes food in Brooklyn, New York.

It is counter-intuitive, but all in all logical: the non-profit sector weighs very heavily in the United States. Last year, $ 450 billion was donated by individuals (almost 70% of the total), foundations and businesses (5%) to charities and nonprofits, according to Giving USA’s annual report, published June 16. The desire to limit the role of the State has historically contributed to the development of “charities” in the United States and the tools available to donors have multiplied.

“With the growth of donations from funds managed by donors [les Donors-advised funds ou DAF, NDLR], planned giving programs, the move to online giving platforms and giving days, there are more varied opportunities than a decade ago for nonprofits to engage with donors. current and potential “, explains Laura MacDonald, vice president of the Giving USA foundation.