The latest Giving USA report, which looks comprehensively at philanthropy across the U.S., found that charities received $592.5 billion in donations in 2024, according to the Associated Press. That marks a 3.3% increase over the prior year after adjusting for inflation.
The increase may provide a small measure of comfort to nonprofits that so far this year have seen a substantial drop in federal funding, over 20,000 layoffs, increasing demand for services and market uncertainty that has caused donor pullback.
Last year marked a return to typical giving patterns after recent years were interrupted by the COVID-19 pandemic and high inflation. Corporate giving was up 6% in 2024 after adjusting for inflation, and individual giving rose 5%. Meanwhile, foundation giving was half a percent lower, and bequests were down 4.4%.
The last two years saw the share of giving by each source stabilize. In 2024, individuals accounted for 66% of giving, followed by foundations (19%), bequests (8%) and corporations (7%).
