Nonprofit organizations depend on charitable giving in order to support their community, according to Giving USA 2023: The Annual Report on Philanthropy for the Year 2022, a publication of Giving USA Foundation, 2023, researched and written by the Indiana University Lilly Family School of Philanthropy. Without charitable giving, organizations may become unable to meet their needs and fulfill their missions.

After increasing to more than half a trillion dollars nationwide in 2021, 2022’s total giving to US charities declined 10.5% to $499.33 billion. Giving USA noted uncertain economic conditions, flat growth in disposable personal income, a 40-year high inflation rate of 8%, and steep S&P 500 growth toward the end of the year as some of the reasons giving declined.

2022 Charitable Giving by Source:

• Giving by individuals totaled an estimated $319.04 billion, declining 6.4% in 2022 (a decline of 13.4%, adjusted for inflation). 

• Giving by foundations grew 2.5%, to an estimated $105.21 billion in 2022 (a decline of 5.0%, adjusted for inflation).

• Giving by bequest totaled an estimated $45.60 billion in 2022, growing by 2.3% over 2021 (a decline of 5.3%, when adjusted for inflation).

• Giving by corporations is estimated to have increased by 3.4% in 2022, totaling $29.48 billion (a decline of 4.2%, adjusted for inflation). Corporate giving includes cash and in-kind contributions made through corporate giving programs, as well as grants and gifts made by corporate foundations.

Read more details online at GivingUSA.org.