Jenkintown Firm Spent 2022 Giving Away $6.06 Billion of Other People’s Money

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work of a National Philanthropic Trust recipient
Image via Mural Arts Philadelphia at YouTube.
One of the creations of Mural Arts Philadelphia, a recipient of 2022 funds from Jenkintown's National Philanthropic Trust.

National Philanthropic Trust (NPT) of Jenkintown released its 2022 year-end data. The year saw an outlay of $6.06 billion. And yet, according to the Yahoo Finance item that reported it, company principals couldn’t be happier.

As its name implies, NPT manages donor-advised funds (DAF), which are accounts that depositors use to accumulate assets that then sent to charities as support.

Last year, NPT data show that 2022 donations were up 18 percent from 2021 figures. Better still, the financial infusions were 263 percent higher than those of 2019, the year prior to the pandemic.

The 2022 largess supported 35,000 charities with more than 104,000 grants, figures that eclipse previous historic benchmarks.

Grant recipients hail from all 50 states and the District of Columbia. More than 180 organizations gaining financial assets are offshore, representing 50 countries.

Mural Arts Philadelphia was a 2022 recipient.

“DAF funding plays an essential role in our organization’s operations,” said Jane Golden, executive director of the creative nonprofit in the city. “[It] helped us move the needle on critical civic and social issues our communities are grappling with.”

More on National Philanthropic Trust and its 2022 performance is at Yahoo Finance.

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Mural Arts Philadelphia was one of numerous nonprofits benefiting as a 2022 NPT recipient.

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