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James Carroll, CPA
James Carroll, CPA L.L.C.
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Decline in Charitable Giving

Americans gave almost $500 billion to charity in 2022 — a strong show of generosity but a 3.4% decline (10.5% adjusted for inflation) from record giving in 2021. This was only the fourth time in the last 40 years that charitable giving fell in current dollars. The stock market downturn, high inflation, and other economic uncertainties caused many households to cut back on giving. Even so, a wide range of charities benefited from generous donations. Here are the types of recipients, by percentage of total charitable contributions.

Source: Giving USA 2023