Attorney General Letitia James, in a dedicated effort to ensure transparency and integrity in charitable giving, releases the ‘Pennies for Charity’ report.
Photo: Seth Wenig/AP
As the season of giving approaches, Attorney General Letitia James released the annual “Pennies for Charity” report.
The report provides a critical look into the state of charitable giving in 2022 and focuses on the impact of professional fundraisers on charities, revealing a decline in overall charitable donations and a significant portion of funds being allocated to fundraiser fees.
According to the report, charities in New York raised more than $1.4 billion in 2022 through campaigns managed by professional fundraisers.
However, this figure marks a decline of more than 10 percent compared to 2021, with $347 million, nearly a quarter of the total donations, going to the fundraisers as fees and expenses.
“New Yorkers who generously donate to charities should do so without any fear of their money being misappropriated or mishandled,” said Attorney General James. “With the holiday season and Giving Tuesday soon approaching, I encourage anyone looking to donate this winter to consult our tips for charitable giving and ensure that their gifts are put to good use.”
The report also highlighted some concerning trends in the nonprofit sector. In nearly half of the campaigns analyzed, charities received less than 50% of the funds raised, while in 17% of the campaigns, expenses exceeded revenue, costing charities over $11 million.
The report is based on information filed with the OAG’s Charities Bureau by professional fundraisers. These fundraisers, who are outside, for-profit contractors, are required to disclose detailed financial reports of their campaigns, including earnings and expenses.
To assist donors in making informed decisions, the report includes tips for safe charitable giving, especially when donating over the phone, by mail, or online.
Donors are advised to…
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