Giving USA 2023

_Giving USA’s _annual report on philanthropy for 2023 was recently released. It found that donors gave an estimated $557.16 billion to U.S. charities in 2023. Total giving grew 1.9% in current dollars, reaching a new high by that measure. However, growth in total giving did not outpace the 4.1% inflation rate. Adjusted for inflation, giving declined by 2.1%.

A bright spot: total giving remains above pre-pandemic levels, even when adjusted for inflation.

Giving experienced a rare decline in 2022, so this report shows that giving has rebounded to historic levels. All four sources of giving in 2023 grew in current dollars. Giving by foundations and corporations posted positive two-year growth, even when adjusting for inflation:

· Individuals gave 67% of all gifts to charity (up 1.6%).

· Foundations gave 18% of all gifts to charity (up 1.7%).

· Corporations gave 6% of all gifts to charity (up 3%).

· The remaining gifts came through estate gifts, totaling 8% of all gifts to charity (up 4.8%).

All recipients of charitable gifts posted positive gains. Gifts to foundations and education led the pack, up 15.4% and 11.6% respectively. Gifts to arts and culture followed closely, up 11%. Gifts to religion and international affairs came in at the bottom of the pack at 3.1% and 2.5%.