Charity donations top $300b in 2007

Americans donated a record $306 billion to charity in 2007, their generosity encouraged by a strong stock market in the first half of the year, according to a report on philanthropy released yesterday.

"A strong start to the economy in 2007 helped lift giving despite worries at year's end from gasoline prices or the housing and mortgage crises," said George Ruotolo of charity consultant Giving USA.

This year's uncertain economy may not bode well for charitable giving in 2008.