Cheap, Stingy, Oakland | The Oakland Journal

The Chronicle of Philanthropy conducted a study that showed the tremendous generosity of Americans, but added a competitive twist by offering a comparative tool that narrows down charitable donations made according to zip-code.

The study conducted by the Chronicle of Philanthropy also offered comparisons of charitable giving based on percentage of income, and essentially showed the FLOW boroughs of Oakland, Franklin Lakes, and Wyckoff being a bit more stingy than blue ribbon states such as Utah and Mississippi.

According to the Chronicle of Philanthropy, Oakland residents gave on average 3.2% percent of income, Franklin Lakes residents gave 3.4% percent of income, and Wyckoff led the pack with 3.5% percent of income; the national average was 4.7%?and residents ?in states like Utah and Mississippi gave 7%.

The study was based on IRS deductions that were itemized, and only included those who reported an income of over $50,000 a year. If people gave to charities and did not itemize it on those 2008 tax returns, it would not be included in this study.

But the study offered some good news to the local economy, as it apparently shows residents of the three towns flush with cash. The Chronicle determined the average amount of ?discretionary spending? in each borough, and the results are encouraging.

Discretionary spending is what?s left over after you pay your taxes, pay your household bills, property taxes, tuition, condo fees, utilities?.it?s left over money?.

On their interactive map, where users can enter in a zipcode to get more details on their community giving habits, the Chronicle defines discretionary incomes as: ?all forms of income minus taxes, housing costs, and other living expenses. The median is the middle number in the range of incomes.?

The study showed that there?s a lot of money out there, and it?s probably up to no good?

Oakland residents, on average, have $71,109 annually that they can spend on luxuries and non-essentials. On average, in Wyckoff, folks have $129,996 in discretionary spending, or just extra money they can tuck under the mattress; and, in Franklin Lakes residents have a whopping $239,938 they can spend on whatever they want but don?t need.

While the Chronicle study certainly shows that FLOW residents are giving a smaller percentage of their income to charity, it shows that a major economic boom is just around the corner. Everyone is sitting on piles and piles of cash, mountains of cash that are growing annually.

Fast Facts From The Study:.

Oakland

Total contributions: $8.6-million
Median contribution: $2,254
Median discretionary income: $71,109
Percent of income given: 3.2%

Wyckoff

Total contributions: $25.5-million
Median contribution: $4,491
Median discretionary income: $129,996
Percent of income given: 3.5%

Franklin Lakes

Total contributions: $28.3-million
Median contribution: $8,209
Median discretionary income: $239,938
Percent of income given: 3.4%

Source: http://theoaklandjournal.com/oaklandnj/cheap-stingy-oakland/

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