Phenomenally Philanthropic

In 2022, philanthropic giving totaled $499.3 billion. Individuals gave $319 billion, foundations $105 billion, bequests $46 billion, and corporations $29 billion. Contributions declined 3.4% from 2021 and 10.5% after inflation, the biggest decline since the Great Recession. Charitable giving meaningfully jumped in 2020 and peaked in 2021 at $516.9 billion inflation adjusted. After peaking in 2017, the 2017 tax law revisions probably caused charitable giving to decline slightly in 2018.