U.S. Charitable Giving Hits Record $617.2 Billion as Bequests Surge 16.6%
Updated
Updated · CNBC · Jun 25
U.S. Charitable Giving Hits Record $617.2 Billion as Bequests Surge 16.6%
3 articles · Updated · CNBC · Jun 25
Summary
$617.2 billion flowed to U.S. charities in 2025, up 5.7% nominally and 3% after inflation—the first time annual giving topped $600 billion in Giving USA's 60-year history.
Bequests drove much of the jump, rising 16.6% to $62.19 billion as a stock-market boom lifted wealthy donors' net worth; individual giving still led at $394.2 billion but grew just 1.4% in inflation-adjusted terms.
The S&P 500 climbed 13.4% in inflation-adjusted dollars between 2024 and 2025, yet total giving rose far less, with weak consumer sentiment and modest GDP growth seen restraining middle-class donors.
Nine donors accounted for $22.32 billion of all giving, including MacKenzie Scott's $6.65 billion, while Paul Allen's estate contributed nearly a third of the increase in bequests through a $3.1 billion research fund.
Giving USA estimated expiring tax incentives pulled forward an extra $1.71 billion in donations, but the report warned nonprofits are becoming more dependent on ultra-wealthy donors and the coming $124 trillion wealth transfer.
With philanthropy now dominated by billionaires, what is the future for small charities and community giving?
As new tax laws make it easier to pass on wealth, will the Great Wealth Transfer bypass charities?
U.S. Charitable Giving Hits Record $X Billion in 2025: Wealth Transfer, Policy Shifts, and the Rise of Donor-Advised Funds Reshape Philanthropy
Overview
In 2025, U.S. charitable giving reached a record high, fueled by robust economic performance and strong growth in the S&P 500 and financial markets. This economic strength led to a substantial increase in the wealth and assets of individuals, companies, and foundations, which directly boosted charitable contributions nationwide. Looking ahead, significant policy changes will shape the giving landscape, including a new deduction for non-itemizing taxpayers starting in the 2026 tax year. This allows non-itemizers to deduct up to $1,000 (single) or $2,000 (married joint) for qualifying charitable donations, signaling important shifts for future philanthropy.