Powered by a booming stock market and a strong economy, charitable giving by American individuals, bequests, foundations and corporations to U.S. charities surged to an estimated $410.02 billion in 2017, according to Giving USA 2018: The Annual Report on Philanthropy for the Year 2017.
Highlights from the report:
Highlights about Charitable Giving by Source
- Giving by three of the four sources of giving grew 5 percent or more.
- Giving by individuals represented 70 percent of total giving.
- Giving by foundations has seen strong growth for the past seven years, according to data provided by the Foundation Center. Its five-year annualized average growth rate of 7.6 percent far exceeds the 4.3 percent annualized average growth rate for total giving.
- Corporate giving was boosted by $405 million in contributions for relief related to natural and manmade disasters.
The Numbers for 2017 Charitable Giving by Source:
- Giving by individuals totaled an estimated $286.65 billion, rising 5.2 percent in 2017 (an increase of 3.0 percent, adjusted for inflation).
- Giving by foundations increased 6.0 percent, to an estimated $66.90 billion in 2017 (an increase of 3.8 percent, adjusted for inflation). Data on foundation giving are provided by the Foundation Center.
- Giving by bequest totaled an estimated $35.70 billion in 2017, increasing 2.3 percent from 2016 (a 0.2 percent increase, adjusted for inflation).
- Giving by corporations is estimated to have increased by 8.0 percent in 2017, totaling $20.77 billion (an increase of 5.7 percent, adjusted for inflation).
Highlights about 2017 Gifts to Charitable Organizations
Charitable subsectors receiving contributions generally experienced strong growth.
- Giving to foundations saw the largest growth in charitable contributions, increasing 15.5 percent, based on data provided by the Foundation Center. This growth was driven by extraordinarily large gifts by major philanthropists, such as Michael and Susan Dell and Mark Zuckerberg and Priscilla Chan, to their foundations.
- Giving to eight of the nine major types of recipient organizations increased in 2017.
- The exception was giving to international affairs organizations, which declined after several years of steady growth. However, giving to this subsector still reached its third-highest level ever recorded.
- Seven of the nine types of recipient organizations experienced growth of 5 percent or more.
Access full report: https://givingusa.org/tag/giving-usa-2018/