Dec 13, 2018 8:56 AM -
Estimated charitable giving in 2017 totaled $410.02 billion, surpassing the $400 billion mark in a single year for the first time. According to Giving USA 2018: The Annual Report on Philanthropy for the Year 2017, a robust stock market and a strong economy led to a 5.2 percent overall increase in giving across the four source areas: outright gifts from individuals, bequests, foundations, and corporations. Similar to 2016, outright contributions from individuals led all giving, amounting to $286.65 billion, an increase of 5.2 percent. Combined with $35.70 billion in charitable bequests, individuals accounted for 79 percent of total charitable giving in 2017, far outpacing giving from foundations and corporations. Despite this, all giving areas saw increases in 2017. The largest increase of 8 percent was seen by corporations, whose giving spiked to $20.77 billion in response to disaster relief and an increase in pretax profits.