There is a surprising amount of value in the items that people often donate to charities. Used clothing alone is a global market worth $4 billion.
About Charitable Giving
Many charities have been responding to the destruction caused by Hurricane Harvey. Many will continue to respond over the coming months and years of recovery. One estimate is that 200,000 homes have been damaged or destroyed by the flood. Of these, 80% were not covered by flood insurance since most were not in a flood plain.
Today there are more than 1.1 million charities registered with the IRS. It’s great to have so many charities to support. But how do you decide which charities?
Americans give more than $1 billion a day to charities: $390 billion in 2016. This figure includes giving by individuals, corporations and foundations.