American Philanthropic Giving Surpassed $400 Billion in 2017
By Giving USA, 6/12/18 - Americans achieved a philanthropic landmark in 2017: for the first time total charitable giving surpassed $400 billion in a single year. A booming stock market and a generally strong economy combined to increase Americans’ financial resources and their confidence in sharing those additional resources through their philanthropy.
Giving from individuals, bequests, foundations and corporations to U.S. charities surged to an estimated $410.02 billion, an increase of 5.2 percent over the previous year. Americans gave generously, and the growth was virtually across the board.
Reflecting the diverse and wide-ranging interests of donors, all four sources of giving and all but one of the major types of charitable organizations that receive contributions experienced increases. In fact, three of the four sources of contributions and seven of the nine types of recipient organizations saw giving grow by 5 percent or more. Donations to the arts rose 8 percent.
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