According to Giving USA Foundation, charitable contributions have dropped by 5.7% in inflation adjusted terms in the last year. This apparently is the sharpest decline in the last 50 years. (See Time, June 22, 2009 issue, page 9).
This shows that most people (if not all) make charitable donations, not because they believe it is good (may be that is one of the reasons, but certainly not the primary one), but because they have lots of money. The real character is known when one makes charitable contributions in times of financial difficulty, not otherwise.
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Hi sir
And exactly so I also feel that Charity is used for casting positive sentoments about the particular organisation which in turn can help in a way some boosting for company's stock in terms of boosting positive sentiments about the company. Hence very clearly these charities are for own valiue maximisation and thus when financial hit comes then its time for cost control and like all investments charity too is put on hold. Sad enough but then its just Economics of Charity.
Vineet
GMP 07-08
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