It's visible at the gas pump and the grocery checkout. In December 2021, the Consumer Price Index (CPI) jumped 7 percent, the largest 12-month increase since 1982. Moreover, inflation tends to hurt people at the bottom of the income ladder than those at the top.
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According to a Federal Reserve study, only 19 percent of transactions were made with cash in 2020, down seven points from the year before. But when it comes to philanthropy, the cash-is-king mindset is still strong.
Vermont's mental healthcare system is struggling to meet the growing needs of children and adults. According to state figures, the number of Vermonters seeking emergency mental health services from community agencies increased sharply between fiscal year 2019-2021.
Private foundations were once the primary giving vehicle for many families and individuals, but new models like the donor advised fund have shown to be advantageous for some.
The roughly $2.7 billion that the American Rescue Plan Act has allocated to Vermont creates unique opportunities for philanthropists to jump in and deepen the impact of these historic public investments.