Charitable giving hit an all-time record of $590B this year, says Boys & Girls Club's Lisa Anastasi

Andrew Ross Sorkin (Anchor) 00:00.070

year's most important giving season has arrived amid economic uncertainty but corporate philanthropy is holding strong joining us right now is lisa anastasia how do i pronounce your last name i apologize i feel like i'm mispronouncing it

Lisa Anastasi (Chief Development Officer) 00:11.470

or just anastasia don't worry about it

Andrew Ross Sorkin (Anchor) 00:13.310

she is the chief development and external relations officer at boys and girls club of america good morning to you help us understand what's going on in the world of philanthropy right now especially well there's the corporate giving and then individual giving what are you seeing

Andrew Ross Sorkin (Anchor) 00:26.070

yeah

Lisa Anastasi (Chief Development Officer) 00:26.350

it's really interesting you know despite some of the economic uncertainties and pressures of this year charitable giving hit an all time record of five hundred and ninety billion dollars and corporate giving is actually the highest it's been in forty years and there's a good

Lisa Anastasi (Chief Development Officer) 00:40.910

reason for that corporate giving is a business strategy it helps drive sales it improves customer loyalty increases brand awareness so at the end of the day giving back is good for business

Andrew Ross Sorkin (Anchor) 00:51.750

so but you're so you're saying now that corporations are giving more money charitably than than they ever have because there was a real pullback yes on charitable giving for a long time

? (Anchor) 01:00.070

there was post two thousand seventeen with the changes in the tax structure correct that allowed everybody to not have to itemize but by not itemizing you wouldn't get your deductions on the charitable

Lisa Anastasi (Chief Development Officer) 01:11.190

but what's interesting is with giving tuesday results recently it was a thirteen percent increase year over year four billion dollars donated and thirty eight million people participating so consumers still want to give they're just giving in different ways

Andrew Ross Sorkin (Anchor) 01:23.350

but i'm curious about the the corporate giving because you know back in the eighties corporations gave actually a lot of money there was a huge amount of philanthropic giving but people thought of it as marketing sure oftentimes they thought that CEO 's were actually abusing the

Andrew Ross Sorkin (Anchor) 01:36.870

sort of company coffers because they had their sort of pet projects there was a real pullback on corporate giving because shareholders said what are you doing with my money you shouldn't be giving my money away give it to me and i'll give it away yeah you think there's something

Andrew Ross Sorkin (Anchor) 01:50.950

changing

Lisa Anastasi (Chief Development Officer) 01:51.670

i do i mean corporate giving now is actually a business strategy right fifty percent of young adults say they're more likely to buy from a brand that gives back and almost sixty percent of consumers say they'd be willing to pay more for a product that does good so i think

Lisa Anastasi (Chief Development Officer) 02:04.990

companies are now seeing this actually it's a key way to improve customer loyalty and connect with key audiences

? (Anchor) 02:10.630

as the corporate giving giving taken over for a drop in individuals giving or is individual giving up too individual

Lisa Anastasi (Chief Development Officer) 02:17.390

giving is up too so they both have been rising

Andrew Ross Sorkin (Anchor) 02:20.720

and how much are you getting from these donor advised funds and things like that because that's actually also a major shift among the wealthy if you will in america

Lisa Anastasi (Chief Development Officer) 02:29.510

yes so donor advised funds continue to grow depending on the year as much as ten or twenty percent year over year and then we expect to see that rise over time as well

Andrew Ross Sorkin (Anchor) 02:37.990

and when you think just about sort of the future of of giving when you think about the future of giving how much of it do you when you like think about your own budget for example is going to end up coming from the sort of corporate side are you spending more time trying to

Andrew Ross Sorkin (Anchor) 02:53.630

raise money there or are you going more after the individual world

Lisa Anastasi (Chief Development Officer) 02:57.630

so when you look at giving as a whole across the country individuals is still the largest portion in some cases corporate giving only makes up seven percent of the amount of money at nonprofit raises but a lot of times it varies depending on the organization

Andrew Ross Sorkin (Anchor) 03:11.640

when you when you think about matching yeah is the other piece of this has always been a match yeah some companies actually got rid of their matches are you seeing more companies putting matches back in what's happening there

Lisa Anastasi (Chief Development Officer) 03:22.590

we are particularly because employees are expecting that of their companies today about seventy percent say they want to work for a company that gives back and offers matching gift programs what we're also seeing is a rise of matching gifts with consumer programs so for example

Lisa Anastasi (Chief Development Officer) 03:36.070

we had a big matching gift with planet fitness during giving tuesday kohl's is doing one right now as well consumers love it it's like buying something on sale right dollars go further

Andrew Ross Sorkin (Anchor) 03:45.470

message one final question as i'm sure this is probably not on your bingo card so one of the things that's actually happened it was quite remarkable earlier this week you saw ray dalio i don't know if you focused on this gave money this is now through the treasury department

Andrew Ross Sorkin (Anchor) 03:58.830

this is the the trump accounts that are starting and you can follow this michael dell participated gave six billion dollars and you're able now to donate directly to young young kids right effectively through a government vehicle this is really the first time we've ever had

Andrew Ross Sorkin (Anchor) 04:13.990

anything like this before and you ray dally earlier this week did it for every kid i believe in the state of connecticut you can do it now by zip code so you can actually go state by state or street by street and i actually wonder how you think that depending on how trump

Andrew Ross Sorkin (Anchor) 04:29.110

accounts is what they're called some people invest in america or invest in america whether ultimately actually that becomes a real vehicle for charity that may be fabulous in certain ways but actually could ultimately take away from other charities you know

Lisa Anastasi (Chief Development Officer) 04:45.190

that's an interesting i think we have a lot to learn there i would say in general charities have been around a long time right boys and girls clubs has been around for a hundred and sixty years i think a lot of times that structure that that strategy is really important so i

Lisa Anastasi (Chief Development Officer) 04:57.990

think you'll see a rise but i think charitable giving will still be strong OK