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All-Time High of $471.44 Billion in 2020! Charitable Giving Up 5.1% in Current Dollars, Up 3.8% Adjusted for Inflation
Generous Americans supported charitable causes with individual gifts, bequests, foundation grants, and corporate giving with a record-setting $471.44 billion during a year of horrific COVID-19 pandemic-related deaths, civil unrest, and massive societal shut-downs. Many schools closed, shifting to remote online learning, and offices and businesses, including many charities, adopted remote work strategies.
In Giving USA 2021: The Annual Report on Philanthropy for the Year 2020, a publication of the Giving USA Foundation, 2021, researched and written by the Indiana University Lilly Family School of Philanthropy, results show the highest single year of charitable giving in history. The previous high was in 2017.
Buoyed by a strong second half and year-end stock market surge, many people shared their gains with charities. Even though required withdrawals from IRAs were waived in 2020, some made payments directly from their accounts to help charities while avoiding income that would otherwise have been taxable to themselves.
Gifts from individuals and their bequests rose. Foundation giving rose significantly while corporate giving declined, many believe as a result of a lower GDP and reduced pre-tax corporate profits.
The important takeaway for most of us is that giving by individuals, their bequests, and their family foundations amounted to an overwhelming 87% of the 2020 giving.
For your own copy of the Another Perspective bar chart as a fully animated PowerPoint slide and/or to receive the Giving USA/Lilly Family School of Philanthropy Press Release with its useful highlights that will make you an instant expert, click the links below. For a free Giving USA 2020 Highlights Report go to www.GivingUSA.org to download it or to order a copy of the full report.
If you prefer either the bar chart or the press release (or both) directly, email me at Sandy@AlexanderMacnab.com and ask me to send them to you as an attachment.
You may download them by right-clicking and selecting “Save link as…”.
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Always put a volunteer between yourself and a problem.
Possessing facts does not make us better,
Knowledge is a right NOT a privilege.
If something is worth doing, it is worth doing
with local support and initiative.
Share the essence of your message
with everyone everyday.
Ours is not a speaking part.
He who deliberates fully before taking
a step with spend his entire life on one leg.
We have found the following helpful thoughts to have special meaning in our lives.
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