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Charitable Giving in 2022 Drops for Only the Fourth Time in 40 Years

July 06, 2023 12:47 PM | Anonymous

Charitable giving in the United States declined in 2022 -- only the fourth time in four decades that donations did not increase year over year -- according to the Giving USA report. Total giving fell 3.4% in 2022 to $499.3 billion in current dollars, a drop of 10.5% when adjusted for inflation. The decline comes at a time when many nonprofits, especially ones providing services to those in need, report an increase in requests for help.

Decision makers for donations are “not mom and pop donors, they’re wealthy individuals,” Bergdoll said. “That is indicative of where the money is coming from now versus 30 or 40 years ago.”

According to the report, 64% of donations in 2022 came from individual donors, 21% from foundations, 9% from bequests, generally through a will or estate plan, and 6% from corporations. In 2022, corporations donated 0.9% of their pre-tax profits in the United States, though Bergdoll said the report does not track whether multi-national corporations donated more in other countries.

 
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