CHICAGO (NewsNation Now) — Data from the U.S. Bureau of Economic Analysis shows Americans are saving more money during the coronavirus pandemic than at the start of this year. But many non-profits say they are still in dire need of support, which is why they are hoping people still give this “Giving Tuesday.”
“Giving Tuesday” is the highlight of the year for many nonprofits. It’s normally the day when thousands of dollars are raised.
But this year, donations are especially critical for non-profit organizations to continue to support people and animals in need.
“It’s been an especially difficult year for all of us. We are very dependent this year upon people’s generosity,” said Tracy Elliott.
Elliot is the President and CEO of the Anti Cruelty Society in Chicago. The group focuses on helping pets with health care, shelter and food.
“We have stepped up efforts this year, for instance, with helping with pet food in the community, by doing pop up pet pantries, working with human food organizations and also doing direct to consumer pet food,” explained Elliott.
Felicia Davis is the president and CEO of the Chicago Foundation for Women. She too says her group needs help to provide clientele with necessities.
“But with COVID this year, it’s really crystallized us. We’ve prioritized those things that sustain life and or keep people healthy… housing, food, food insecurity and access to healthcare are really really important,” Davis stressed.
According to the U.S. Department of Commerce’s Bureau of Economic Analysis, the U.S. personal saving rate skyrocketed to a record 32.2% in April, up from 12.7% in March.
Bureau of Economic Analysis data states that in July the savings rate was around 18.6%; August was 15.1%; September 14.6%; and October, the most recent month available, saw a rate of 13.6%.
And with Americans saving more, it raises concerns if people will give as much this year to groups in need. Davis says cash is the main resource the Chicago Foundation for Women uses to help others.
“The biggest thing that we’ve had to do this year really is to do direct cash support, so actually paying for rent assistance, paying for women to be able to cover their childcare expenses, providing those payments directly to the organizations or the vendors or the businesses that the women are using,” said Davis.
Whether it’s donating to a women’s foundation or supporting an anti-cruelty shelter for pets, non-profits are hoping for donations of any size this Giving Tuesday so that they can give to families in need.
If you’d like to help, here are links to both organizations:
Chicago Foundation for Women: 2020 Giving Tuesday