“Giving USA,” the annual tally of how much private sources contribute to charities, has just released its 2024 findings.
Though the economy and government policy have created an entirely new environment for many nonprofits, the results in this new study still tell fundraisers a lot about where to hunt for charitable donations.
Among the findings from the new study and fresh interviews with philanthropy experts:
Gifts to donor-advised funds continue to surge. Of the nine causes that “Giving USA” tracks, the one that jumped the most was dominated by donor-advised funds, which continue to see a lot of growth. Over all, the public society benefit category, which includes United Ways and similar organizations, rose 16.1 percent.
Donor-advised funds typically see an influx when the stock market is strong so that means a lot of affluent people can tap into those accounts to give generously. The Chronicle has written extensively about how fundraisers can raise more money from DAF donors. One intriguing recent piece of advice we’ve heard from experts: DAF donors are good candidates for planned-giving appeals.
Foundation assets swelled in the past year so there’s more money to give. Foundations accounted for 19 percent of all giving, and though the amount they distributed in 2024 was a half percent less than the previous year when adjusted for inflation, the runup in assets they had in the stock market last year should help charities this year.
“Foundations give from a trailing average of the value of their assets,” says Wendy McGrady, a fundraising consultant who is also chair of Giving USA, the organization that commissions the comprehensive research on philanthropic contributions. “We’ve had almost a decade of strong market growth, but particularly that 23.3 percent last year is going to help their average in terms of their giving this year. My hope is that foundations early this year were in a good position and will be able to respond to some of the need.”
Corporations gave big last year — although some may hold back in 2025. Strong performance by companies, particularly in the tech sector, pushed corporate giving up 6 percent, after adjusting for inflation. Chief Executives for Corporate Purpose regularly polls corporations about their giving. The group’s data for 2024 suggested companies in the tech sector and consumer staples, such as toilet paper and food, were likely to have increased their giving, whereas some companies focused on financial services and luxury goods, such as fancy electronics and travel, probably decreased their giving, according to Kate Stobbe, the group’s director of corporate insights.
Still, policy changes in Washington could put a damper on corporate giving. A proposed provision in the current tax legislation would require corporations to give 1 percent of pre-tax profits before they could get a charitable tax deduction. Stobbe says many companies are thinking about how their philanthropy might change if this becomes law.
“Our companies are doing scenario planning to see how big of an impact this would have on their work and if they’re willing to take that risk and continue to give,” she says. “Or if they’re going to pivot to maybe different social impact channels.”
Wealthy donors are still giving big. Carla Willis, a managing partner at the fundraising consultancy Washburn & McGoldrick, notes that many of the firm’s clients are still doing well in their fundraising, especially when it comes to securing big gifts.
“Their donors are showing them that there’s reason for them to feel positive,” Willis says. “We keep reading about these big gifts that are being made. We’re pleased to be seeing there are more coalitions and institutions and organizations coming together to learn and delve into some of these issues together because there’s more power in numbers.”
