Giving Tuesday comes on the heels of other spending days: Black Friday, Small Business Saturday and Cyber Monday. Researchers say despite the pandemic and inflation concerns, people are still giving their money — but cautiously.
Patrick Rooney, a professor of economics and philanthropic studies at Indiana University’s Lilly Family School of Philanthropy, says charitable donations tend to move in the general direction of the economy.
Angela Lee, a professor of marketing at Northwestern University’s Kellogg School of Business, says charities will be wise to tap into their previous donors rather than spend resources trying to get new ones. “Understand that there is a difference between legitimate and efficient. Legitimate just means that it’s registered with the IRS and state agencies to be able to solicit and to exist, it doesn’t mean that it will use your donation efficiently and effectively,” Styron said.
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