Giving by rich Americans fell during recession-study | Reuters

Giving by rich Americans fell during recession-study | Reuters: "Wealthy Americans donated average $54,016 in 2009

* Only 2.5 percent made donations of more than $500,000

By Michelle Nichols

NEW YORK, Nov 9 (Reuters) - Charitable giving by wealthy Americans dropped by more than a third between 2007 and 2009 as the worst U.S. recession in decades put pressure on the nonprofit sector, according to a study released on Tuesday.

While almost all rich Americans -- more than 98 percent -- donated to nonprofit groups last year, the average amount fell to $54,016 in 2009 from $83,034 in 2007 and $91,928 in 2005, the third biennial Bank of America Merrill Lynch study found."