Americans gave less money to charity in 2023 for the second straight year, reversing years of increases as nagging inflation left small donors feeling pinched.
An option to donate to St. Jude Children’s Research Hospital appears on the Domino’s app in a photo taken in New York on Wednesday, May 15, 2024. Domino’s is the latest and largest example of philanthropic allies new and old …this week that philanthropic donations dropped by 2.1% after inflation to $557.16 billion in 2023. The only other times in the past 40 years that inflation-adjusted giving declined year-over-year in the annual report were 1987, 2008 and 2009.
According to Giving USA, pandemic stimulus money drove inflation-adjusted charity to record highs in 2020 and 2021, with annual gifts exceeding $500 billion for the first time. In 2022, giving fell again by 10.5% after inflation. Adjusted for inflation, international relief gifts fell by 1.6% last year and religious donations fell by 1%, making them the two biggest financial losers. Total giving in different categories ranged from a low of $21.2 billion for the environment and animals to a high of $145.81 for organized religion.
According to Giving USA, an 8% inflation rate in 2022 contributed to an 8.4% drop in giving that year. Last year, a 4.1% inflation rate added to a 2.1% decrease in financial donations.
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Charitable donations continue to decline, down 2.1% in 2023, according to a new Giving USA reportCharitable giving dropped 2.1% in 2023 after inflation, according to the most recent Giving USA report, the key findings of which were released Tuesday. The international relief organization Project Hope says it’s been hard to get donors’ attention as more and more bad things happen in the world. Donations to international affairs dropped 1.
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Charitable donations continue to decline, down 2.1% in 2023, according to a new Giving USA reportCharitable giving dropped 2.1% in 2023 after inflation, according to the most recent Giving USA report, the key findings of which were released Tuesday.
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Charitable donations continue to decline, down 2.1% in 2023, according to a new Giving USA reportCharitable giving dropped 2.1% in 2023 after inflation, according to the most recent Giving USA report, the key findings of which were released Tuesday.
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