Americans gave an estimated $358.38 billion to charity in 2014, surpassing the peak last seen before the Great Recession, according to the 60th anniversary edition of Giving USA released today. That total slightly exceeded the benchmark year of 2007, when giving hit an estimated inflation-adjusted total of $355.17 billion.
The 2014 total jumped 7.1 percent in current dollars and 5.4 percent when inflation-adjusted over the revised estimate of $339.94 billion that Americans donated in 2013, according to Giving USA 2015: The Annual Report on Philanthropy for the Year 2014.
In addition, 2014 marked the fifth year in a row where giving went up; the average annual increase was 5.5 percent in current dollars (3.4 percent when inflation-adjusted).
All four sources that comprise total giving — individuals (72 percent of the total); corporations (5 percent); foundations (15 percent); and bequests (8 percent) — upped their 2014 donations to America’s 1-million-plus charities, says the report, which is the longest-running and most comprehensive of its kind in America. Giving USA is published by Giving USA Foundation, which was established by The Giving Institute to advance philanthropy through research and education. The report is researched and written by the Indiana University Lilly Family School of Philanthropy.
2014 Charitable Giving by Source:
- Individual giving, $258.51 billion, increased 5.7 percent in current dollars (and 4.0 percent when inflation-adjusted) over 2013.
- Foundation giving, $53.97 billion, was 8.2 percent higher than 2013 (the increase was 6.5 percent when inflation-adjusted).
- Bequest giving, $28.13 billion, increased 15.5 percent (13.6 percent when inflation-adjusted) over 2013.
- Corporate giving, $17.77 billion, increased 13.7 percent (11.9 percent when inflation-adjusted) over 2013 giving.
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