After hitting record highs in 2021, donations on 'Giving Tuesday' have dropped as Americans feel the effects of inflation, high interest rates and the stock market decline.
After hitting record highs in 2021, donations on"Giving Tuesday" have dropped as Americans feel the effects of inflation, high interest rates and the stock market decline.
In 2021, donations reached record levels in 2021, bringing in an estimated $2.7 billion but financial experts believe that may have been a wonderful anomaly. Experts said the giving spirit has cooled off as inflation and interest rates rose while the stock market declined. With these factors, people simply aren't giving their disposable income to charity. Still, the Rescue Mission continues its fundraising efforts.
"She would tear up, and it was like she was communicating with her eyes, 'I don't want this,'" he said."And then to see them healthy and clean, and they've been stably housed for four years, again tears in her eyes."
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