• Sunrise Stat
  • Posts
  • 🌅 Charitable Giving Increased in 2024

🌅 Charitable Giving Increased in 2024

Author

Sunrise Stat
July 03, 2025

$592.5 billion - The amount U.S. individuals and businesses donated to charity in 2024.

Uncover the power of a single statistic: Sign up for Sunrise Stat to find your intellectual clarity.

SOURCE
WHAT TO KNOW

  • Giving USA’s annual report on American philanthropy found charitable giving reached $592.5 billion in 2024, up 3.3% from the year prior as giving rose across all sectors. Individuals donated $392 billion in 2024, up 5.1% from the year prior to account for two-thirds of the total donated, while donations from corporations reached $44 billion, up 6.0%.

WHY IT MATTERS

  • Charitable giving in 2024 reached the second-highest level on record, growing at the fastest pace since 2021, when the COVID pandemic spurred Americans to donate more than usual. Last year was also the first year since 2021 in which charitable giving outpaced inflation.

CONNECT THE DOTS

  • The report’s authors attribute the growth in giving to two main economic forces: a robust economy, which grew at 2.8% in 2024, and the stock market’s strong performance, both of which boosted individual and corporate contributions and allowed charitable organizations to maintain the record levels of giving seen from the groups in recent years. The researchers also cited positive consumer sentiment, growth in personal income levels, and cooling inflation as drivers of the increased giving.