Giving USA: Total U.S. charitable giving declined in 2022 to $499.33 billion following two years of record generosity
Stock market drop and economic uncertainty accompanied decrease after giving surpassed half-trillion-dollar milestone during pandemic area
WHAT TO KNOW
- Key findings from Giving USA 2023: The Annual Report on Philanthropy for the Year 2022 released today report that individuals, bequests, foundations and corporations gave an estimated $499.33 billion to U.S. charities in 2022.
- Total giving decreased in 2022, a relatively rare occurrence usually seen during years with difficult or unusual economic conditions. Giving was influenced by stock market volatility and economic uncertainty. Total giving declined 3.4% in current dollars – down 10.5% after adjusting for inflation – from a revised total of $516.65 billion in 2021.
- The 2022 results follow the two best years on record for charitable giving, including 2021 when giving surpassed $500 billion for the first time.
Giving USA: The Annual Report on Philanthropy, the longest-running and most comprehensive report on the sources and uses of charitable giving in America, is published by Giving USA Foundation, a public service initiative of The Giving Institute. It is researched and written by the Indiana University Lilly Family School of Philanthropy at IUPUI.
WHY THIS MATTERS
- Total charitable giving has fallen only three other times in the last 40 years in current dollars: in 1987, 2008 and 2009.
- Giving had been especially strong in 2020 and 2021 as donors rallied to help address increasing needs amid a global pandemic and economic crisis and recovery, and supported efforts to advance racial justice.
- Decreases in giving can affect the ability of nonprofit organizations to meet needs and fulfill their missions.
For the rest of the story, please visit https://givingusa.org