Everybody knows Americans are big givers. But their charitable impulses keep generating surprises.
Consider just a few conclusions from recent research:
• Charitable giving plays an even larger role in the economy than is suggested by some $260 billion in annual contributions. Each dollar of giving appears to create $19 of extra national income, according to a book released this past weekend.
• Demand for nonprofit services gets proportionately bigger, not smaller, as a locality’s income rises, a Federal Reserve economist finds.