U.S. Charitable Giving

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We gave more in '24

Data: Giving USA Foundation/Indiana University Lilly Family School of Philanthropy. Chart: Axios Visuals Charitable donations in the U.S. hit $592.5 billion in 2024. The big picture: That's a 3.3% jump from 2023 and the second-highest inflation-adjusted total ever recorded, according to a new report from the Giving USA Foundation and Indiana University's School of Philanthropy. ? Zoom in: Donations to nearly every cause grew, from education to environment to the arts. Individuals were the leading source of giving, donating $392 billion last year and topping the total gifts of foundations and corporations. Religious causes received the greatest share of donations — 23%. Zoom out: The rise in giving was supported by the 2.8% growth in the economy last year, researchers at Indiana University write in The Conversation. It also helped that 2024 was a banner year for the stock market and personal incomes rose, they note. ? Flashback: The highest annual giving total ($644 billion) was recorded in 2021, when the pandemic triggered a surge in donations. This year saw the fastest pace of growth in giving since that Covid-era spike.

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Warren Buffett announces $6 billion in donations to five foundations

NEW YORK (AP) — Famed investor Warren Buffett is donating $6 billion worth of his company’s stock to five foundations, bringing the total he has given to them since 2006 to roughly $60 billion, based on their value when received.

https://apnews.com/article/warren-buffett-donation-charity-gates-foundation-e0d89b0cb2ce6cf8d41547b080d062e6?

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? Record $2 billion donation

Illustration: Maura Losch/Axios

Nike founder Phil Knight and his wife, Penny, are giving $2 billion to a cancer institute named after them at Oregon Health & Science University. Why it matters: The megagift is believed to be the largest single donation in higher education history. It surpasses Michael Bloomberg's $1.8 billion donation to Johns Hopkins in 2018. Go deeper.