Charitable Giving Coalition Assessing Giving USA
Assessing Giving USA 2020: Billions in Giving Are Missing
On June 16, the Giving USA Foundation released its annual report on charitable giving in the United States during calendar year 2019. The report notes that giving increased 2.4 percent (adjusted for inflation) in 2019, but this singular result hides several increasingly disturbing trends for overall charitable giving, including:
- 2018 and 2019 giving did not keep pace with GDP growth for the first time in recent memory. In fact it missed that mark by almost $24 billion.
- 2019 giving by individuals (adjusted for inflation) declined by more than $6 billion as compared to 2017 results.
- 2019 giving was flat compared with growth in the S&P 500 Index
- 2019 giving results do not reflect the current dramatic downturn in first quarter 2020 giving. The recent report from the Fundraising Effectiveness Project shows first quarter 2020 giving down 6 percent including an 11 percent decline for March 2020.
The solution: Congress should enact the bipartisan Universal Giving Pandemic Response Act (S. 4032, H.R. 7324) which greatly enhances the above-the-line charitable deduction for those who claim the standard deduction. This giving incentive will increase the flow of charitable donations to charities providing vital services during the pandemic.
Visit the Charitable Giving Coalition Assessing Giving USA document for more on the recent Giving USA report on charitable giving in 2019.