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Americans gave a record $471 billion to charity in 2020, amid concerns about the coronavirus pandemic, job losses and racial justice
Key Excerpts from Article on Website of Yahoo! News
Posted: June 28th, 2021
https://www.yahoo.com/now/americans-gave-record-471-billion-...
A flood of donations to support COVID-19 relief and racial justice efforts, coupled with stock market gains, led Americans to give a record US$471 billion to charity in 2020. The total donated to charity rose 3.8% from the prior year in inflation-adjusted terms, according to the latest annual Giving USA report from the Giving USA Foundation, released in partnership with the Indiana University Lilly Family School of Philanthropy at IUPUI. In contrast, total charitable giving only grew 2.8% in 2019 – a year of economic expansion and stock gains. As two of the lead researchers who produced this report, we observed that giving bucked historical trends in three ways. The total increased despite a recession; foundations’ giving surged; and gifts to a variety of nonprofits providing social services, supporting people in need and protecting civil rights grew the most. Food banks, homeless shelters, youth programs and other organizations that meet basic needs, collectively known as human services groups, received an outpouring of support in 2020. Those donations grew 8.4%, in inflation-adjusted dollars, to $65 billion. This additional giving responded to the COVID-19 pandemic and the economic troubles it brought about, as well as broad calls for racial justice. Giving to public-society benefit organizations grew the most, a 14.3% increase to $48 billion. This broad category includes the United Way and its local branches, which pool donations raised in workplaces, from corporations and other sources.
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