Total giving fell to $499 billion, down 3.4% from a record year of donations in 2021, according to Giving USA 2023: The Annual Report on Philanthropy for the Year 2022, released Tuesday. It was only the fourth time in the last 40 years that Americans donated less than they did the prior year, before inflation adjustments, according to the report, a publication of Giving USA Foundation, 2023, researched and written by the Indiana University Lilly Family School of Philanthropy.
In 2022, individuals, who provide the largest share of giving, curtailed their donations even before adjusting for inflation. Contributions from foundations, corporations and estates all fell after accounting for inflation. Six individuals and couples gave nearly $14 billion, the report said. Very large gifts from some of the richest Americans represented nearly 5% of individual donations for the second year in a row.
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