Communications and Fundraising Consultant at Viva Strategic Communications | Health Advocacy Volunteer
In 2023, Americans gave $557 billion to charity. While total giving remains strong, fewer people are donating—dropping from 66.2% of U.S. adults in 2000 to just 45.8% in 2020. So, who is funding philanthropy? Fewer donors, but with larger individual contributions. ?? Why the shift? ?? Economic volatility & inflation – Many households have less disposable income to give. ?? Cultural & societal changes – Declining religious affiliation and trust in institutions impact giving. ?? Tax policy changes – A major driver of this trend. ?? The Tax Policy Effect The 2017 Tax Cuts and Jobs Act significantly altered charitable giving incentives: ?? The standard deduction increased, leading many donors to stop itemizing their deductions. ?? The number of taxpayers itemizing fell from 30% in 2017 to just 10% since 2018. ?? A 2018 study found these tax changes cut charitable giving by $20 billion in just one year. ?? What’s Next? With the second Trump administration now in office, tax policies could further shape charitable giving trends. Will new measures encourage more Americans to give, or will donations continue to concentrate among wealthier individuals? #NonprofitTrends #Philanthropy #CharitableGiving #Fundraising #DonorEngagement #TaxPolicy #GivingUSA
