A tech-focused business executive in Minnesota, Michael VanErdewyk leads Bright Bucks, an app-driven platform that enables members to earn cash across a variety of categories. Through the platform, Michael VanErdewyk encourages people to participate in money-generating activities that can be allocated to charities. This reflects a core Bright Bucks ethos that generous support of nonprofits benefits society in many ways.
In May 2021, CNBC reported that charitable giving has remained strong throughout the pandemic, with 90 percent of affluent people supporting charitable causes. One-third of those surveyed ramped up their giving in 2020 to organizations focused on basic needs, such as food and medicine. Some 47 percent contributed in direct response to the year’s extraordinary circumstances, whether the funds were routed to individuals, businesses, or charities.
An example of this trend was the donor-advised Bank of America charitable gift fund, which witnessed a 50-percent increase in funding from the year previous. This represented $500 million in annual giving. At the same time, some nonprofit entities shifted their attention to activities with on-the-ground impacts, such as food pantries. Despite these positive trends, the long-term viability of a number of nonprofits is considered shaky, with nearly 30 percent at risk of closing their doors.
In May 2021, CNBC reported that charitable giving has remained strong throughout the pandemic, with 90 percent of affluent people supporting charitable causes. One-third of those surveyed ramped up their giving in 2020 to organizations focused on basic needs, such as food and medicine. Some 47 percent contributed in direct response to the year’s extraordinary circumstances, whether the funds were routed to individuals, businesses, or charities.
An example of this trend was the donor-advised Bank of America charitable gift fund, which witnessed a 50-percent increase in funding from the year previous. This represented $500 million in annual giving. At the same time, some nonprofit entities shifted their attention to activities with on-the-ground impacts, such as food pantries. Despite these positive trends, the long-term viability of a number of nonprofits is considered shaky, with nearly 30 percent at risk of closing their doors.
