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5. Giving trends in 2023
Each year Giving USA Foundation, The Giving Institute, and the Indiana University Lilly Family School of Philanthropy partner to produce the Giving USA report, which summarizes American’s generosity. The Giving USA 2024 reports on charitable giving in the year 2023.
Giving USA 2024 Report
| Bequests | Foundations | Corporations | Individuals | Total giving | |
|---|---|---|---|---|---|
| Amount (billions) 2023 | $42.68 | $103.53 | $36.55 | $374.40 | $557.16 |
| Percent increase over 2022 | 4.8% | 1.7% | 3% | 1.6% | 1.9% |
| Percent of total | 8% | 19% | 7% | 67% | 100.00% |
Highlights from the Giving USA 2023 report:
- Total giving remains above pre-pandemic levels, even when adjusted for inflation. Total giving reached $557.16 billion in 2023, a 1.9 percent increase in current dollars. In inflation-adjusted terms, total giving changed by -2.1 percent in 2023.
- Donor-advised funds are the fastest growing form of giving in 2023. The top four charitable donation areas were; religion, human services, education and foundations.
- Individual giving as a share of overall charitable giving continues to shrink but did have a slight increase in 2023. Between 2022 and 2023, current-dollar individual giving increased 1.6 percent.