Americans opened their wallets wider than ever last year, pushing total charitable donations past the $600 billion mark for the first time on record.
All told, donors across the country contributed $617 billion to churches, ministries, and a wide range of nonprofit organizations. While that figure ranks as the second-highest ever when accounting for inflation, it did not surpass the all-time record set back in 2021.
Giving grew by three percent compared to the previous year, edging ahead of the long-term annual average growth rate of 2.7 percent. Economists point to the nation’s relatively healthy economy as a key factor behind the uptick in donations.
