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No. 510. PRIVATE PHILANTHROPY-ESTIMATED FUNDS, BY SOURCE AND ALLOCATION:
1960 TO 1972
[In millions of dollars. Estimates for sources of funds based largely on reports of the Internal Revenue Service for itemized deductions, corporate profits, and bequest. Data adjusted for nonitemized IRS deductions and after comparison with levels of gross national product, personal income, population, and publicly reported large bequests. For bases of allocation of funds, see source]
1 For 1960, contributions for health to welfare agencies are included with welfare; thereafter, with health. Source: American Association of Fund-Raising Counsel, Inc., New York, N.Y., Giving USA. (Copyright.) No. 511. FOUNDATIONS-NUMBER AND FINANCES BY STATES AND OTHER AREAS Money figures in millions of dollars. Figures are for latest year reported by foundations, usually 1968 or 1969. A foundation may be defined as a nongovernmental, nonprofit organization, with funds and programs managed by its own trustees or directors, established to maintain or aid social, educational, charitable, religious, or other activities serving the common welfare. Excludes organizations which make general appeals to the public for funds, act as trade associations for industrial or other special groups, are restricted by charter solely to aiding one or several named institutions, or which are captive trusts, within colleges, churches, or other organizations, or are very small-defined as having neither assets of $500,000 nor making grants of at least $25,000 in the latest year of record. There were approximately 21,000 very small foundations]
1 Possessing assets of $10 million or more. 2 Possessing assets between $1 million and $10 million. * Possessing assets between $500,000 and $1 million or making grants totaling at least $25,000. Source: The Foundation Center, The Foundation Directory, Edition 4, New York, N.Y., 1971.
No. 512. FOUNDATIONS-GRANTS REPORTED, BY SUBJECT FIELD: 1969 To 1971
United Way Campaigns-Red Cross
No. 513. UNITED WAY CAMPAIGNS-FUNDS RAISED AND ALLOCATED: 1960 To 1971 [Money figures in millions of dollars. Includes outlying areas and Canada. "Campaign" defined as a series of operations or systematic effort to bring about a desired result, or "goal." Includes all campaigns for which data are on file with United Way of America. Year shown represents year of allocation, campaign held preceding year]
1 Totals include agency allocations and exclude the Fund Raising Experience of the Greater New York Fund. Source: United Way of America, New York, N.Y., Annual Directory.
No. 514. AMERICAN NATIONAL RED CROSS-SUMMARY: 1960 TO 1972 [In thousands. For years ending June 30]
Source: The American National Red Cross, Washington, D.C., Annual Report, and unpublished data.
19, 100 226,000
FIG. XX. GROSS NATIONAL PRODUCT AND PERSONAL CONSUMPTION EXPENDITURES: 1960 TO 1972
Source: Chart prepared by U.S. Bureau of the Census. Data from U.S. Bureau of Economic Analysis
FIG. XXI. TRENDS IN MEDIAN FAMILY INCOME IN 1971 DOLLARS: 1951 TO 1971
Income, Expenditures, and Wealth
This section presents statistics on two different aspects of income and expenditures: One aspect relates to the national income and product system (a summation reflecting the entire complex of the Nation's economic activities and the interaction of its major components) and the other to the distribution of income to families and individuals. Statistics on national wealth are also included in this section. Figures from the flow-offunds accounts, a financial view of the economy, appear in section 16.
The primary source for national income and product information is Survey of Current Business, published monthly by the Department of Commerce, Bureau of Economic Analysis. The complete set of national income and product tables for the 1968-71 period is published in the July 1972 Survey. For the 1964-67 period, these figures are available in U.S. National Income and Product Accounts, 1964-67. Corresponding information for earlier years, with data starting in 1929 in most cases, is published in The National Income and Product Accounts of the United States, 1929-1965, Statistical Tables, a supplement to the Survey. Summary estimates for current periods appear in the most recent issue of the Survey. The basic reference sources for concepts and methodology are National Income, 1954 Edition; U.S. Income and Output, 1958; the August 1965 issue of the Survey; and Readings in Concepts and Methods of National Income Statistics.
The major source of data on income distribution is the Bureau of the Census (Census of Population and Current Population Survey). Annual data on income distribution by size-class appear in Current Population Reports-Consumer Income, series P-60. A brief description of the Current Population Survey, which is the basis for the data in that report, is given on page 1 of this edition of the Statistical Abstract.
A former primary source of information on income distribution was the national Survey of Consumer Finances conducted annually from 1946-1971 by the Survey Research Center of The University of Michigan. The results of these surveys are published in a monograph series, Survey of Consumer Finances.
Gross national product.-Gross national product (GNP) is the total national output of goods and services valued at market prices. It can be viewed in terms of expenditure categories. These categories comprise purchases of goods and services by consumers and government, gross private domestic investment, and net exports of goods and services. The goods and services included are largely those bought for final use (excluding illegal transactions) in the market economy. There are a number of inclusions, however, which represent imputed values, the most important of which is the rental value of owner-occupied dwellings. GNP measures the output attributable to the factors of production-labor and property-supplied by residents of the United States. GNP differs from "national income" mainly in that GNP includes allowances for depreciation and for indirect taxes (such as sales and excise taxes). National income.-National income is the aggregate earnings of labor and property which arise in the current production of goods and services by the Nation's economy. It is the sum of compensation of employees, proprietors' income, rental income, net interest, and corporate profits. Thus, it measures the total factor costs of the goods and services produced by the economy. Earnings are inclusive of direct taxes on those earnings.
Personal income.-Personal income is the current income received by persons from all sources net of contributions for social insurance. Not only individuals (including owners of unincorporated enterprises), but nonprofit institutions, private trust funds, and private health and welfare funds are classed as "persons." Personal income includes transfers (payments not resulting from current production) from government and business such as social-security benefits, military pensions, etc., but excludes transfers among persons and Federal military pay in kind. Although most of the income is in monetary form, there are important nonmonetary inclusions-chiefly, estimated net rental value to owner-occupants of their homes, the value of services furnished without payment by financial intermediaries, and the value of food consumed on farms. Disposable personal income is the income remaining to persons after deducting personal tax and nontax payments to general government. It is the income of persons available for spending or saving.
Distribution of income by size-class.-Money income statistics are based on data collected in various field surveys of income conducted since 1936. In each of these field surveys trained enumerators interview representative samples of the population with respect to income received during the previous year. The income here referred to is consumer money income for the calendar year and is before deduction of income taxes or social-security taxes unless otherwise specified in individual tables. Nonmoney items of income are not covered. None of the aggregate income concepts (gross national product, national income, or personal income) is exactly comparable with consumer money income. The nearest approximation is "personal income."
Individuals' saving and assets.-The Board of Governors of the Federal Reserve System issues detailed estimates of individuals' saving based on flow of funds accounts and showing the increase in financial assets, net investment in tangible assets, less increase in debt of individuals. (See section 16.) Data back to 1946 are available upon request from the Federal Reserve.
The Survey Research Center of The University of Michigan also collects annual data on assets, usually including the distribution of liquid assets, and occasional data covering positive, negative, and net savings of families, by income groups.
National wealth. The national wealth data shown in table 564 are drawn from Supplementary Volume I of the Institutional Investor Study Report of the Securities and Exchange Commission. They are, in large part, an updating of data from R. W. Goldsmith, A Study of Saving in the United States and The National Wealth of the United States in the Postwar Period. As is the case in all national wealth estimates the figures are intended chiefly to indicate the order of magnitudes involved and t permit rough comparisons among types of wealth and of the growth over long periods. Definitions and analytical details are presented in the source publication.
Current and constant dollars. Several of the series in this section are expressed both in current dollars and in constant dollars. Data shown in current dollars are unadjusted for comparability with respect to prices over a period of time; that is, the dollars shown are in terms of the level of prices prevailing for each of the years specified. Data shown in constant dollars are computed values which eliminate the effect of price changes. Constant dollars are derived by dividing current-dollar figures by their corresponding price indexes based on a year specified as 100.
Implicit price deflator. The implicit price deflator is the ratio of GNP in current prices to GNP in constant prices. It is a weighted average of the price indexes used to deflate the components of GNP, the implicit weights being expenditures in each period.
Historical statistics.-Tabular head notes provide cross-references, where applicable, to Historical Statistics of the United States, Colonial Times to 1957. See preface.