The wealthiest Americans increased their giving to arts and culture organizations from 2007 to 2009, bucking the decline in overall philanthropy by the country’s rich, says the Los Angeles Times.
As The Chronicle of Philanthropy noted on Wednesday, a new Bank of America Merrill Lynch study found that high-net-worth individuals gave an average of 35 percent less to charity last year than in 2007, but arts giving by those donors rose 11.6 percent on average. Donations to cultural groups were still less than a third of the 2005 average.
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