As I See It: Giving USA 2023: The Annual Report on Philanthropy for the Year 2022 Released Today
Every year the Giving USA Foundation, The Giving Institute and the Indiana University Lilly Family School of Philanthropy provide the most comprehensive, long-standing, and most vigorously researched resource in U.S. charitable giving, Giving USA: The Annual Report on Philanthropy. The report on Americans’ generosity and related historical trends on U.S. charitable giving chronicles the changes in philanthropy and the significant role it plays in American history for over six decades. In recent years charitable giving reached an all-time high as Americans recognized an urgent need to uplift our communities as we experienced a global pandemic and significant social unrest. In the 2023 report, we see significant changes in giving trends continued in 2022 for different and varied reasons.
M. Gale is a proud sponsor of the Giving USA Foundation and this report. I am currently serving on the Giving USA Foundation whose mission is to advance research, education, and public understanding of philanthropy in America. Please join me this afternoon at 2 PM CST for a deeper dive into this year’s report. You can register for the session by clicking this link.
Top Three Take-Aways from the 2023 report on American charitable giving in 2022:
Giving declined to $499.33 billion in 2022, a year influenced by the stock market and economic uncertainty. When adjusted for inflation, 2021 and 2020 are the best years of giving on record. Economic conditions introduced new challenges in 2022 both for wealthy philanthropists and the everyday giver.
New economic challenges emerged in 2022 that had a dampening effect on giving. The S&P 500 declined by 19.4% (-25.4 % adjusted for inflation), disposable personal income declined by 0.1% (-7.5% adjusted for inflation) and inflation reached 8% – the highest rate in 40 years.
Giving by foundations is growing as a share of total giving. One dollar of every $5 given to charity in 2022 came from foundations. Giving by individuals grew by an annualized average rate of 4.9% over the last 40 years, foundations grew by 9.2%. Yet, while giving by individuals continues to grow over time, it has fallen below 70% of all giving for the fourth consecutive year.
You can subscribe to the Giving USA 2023 report by clicking this link.
To view the Giving USA 2023 Annual Overview Infographic, please click this link.
Does your organization need help building a sustainable giving program? M. Gale would love to visit with you about development assessment and planning, as well as organizational readiness. Reach out to us at: info@mgaleassociates.com or call 888-647-7942.
As President and Founder of M. Gale, Missy Gale has dedicated almost three decades to crafting unique strategies and solutions to complex fundraising projects and organizational issues, resulting in transformational fundraising success for her clients. With more than 14 years at the helm of M. Gale, Missy has assisted nonprofits in North Texas and the Southwest in the areas of healthcare, arts and culture, human services, and education. She has been honored as the Outstanding Professional Fundraiser by the Association of Fundraising Professionals Fort Worth Metro chapter and named A Great Woman of Texas by the Fort Worth Business Press. Dedicated both professionally and as a volunteer, Missy is currently serving as a board member of the Giving USA Foundation, and as a committee member for the Santa Fe Farmer’s Market Institute.
