Americans Give More Than $1B To Charity Every Day

Usually, the stories we come across that deal with large amounts of money often detail the exchange of millions or billions of dollars between huge companies in mega-mergers and pricy business deals. But there are others shelling out cash every day, and they’re giving it to charitable organizations to the record-breaking tune of $1 billion per day.

According to a report released today by the Giving USA Foundation, which conducts research and education on philanthropy, Americans are donating money to charity more than ever before: total charitable donations from individuals, estates, foundations, and corporations rose around 4% in 2015, to $373.25 billion.

That’s “record-setting whether measured in current or inflation-adjusted dollars,” the report says, adding that it means on average, Americans are giving more than $1 billion to charity every day of the year.

Individual Americans were the most generous group of givers, donating $264.58 billion in 2015, a 3.8% increase from the previous year, and about two-thirds of the total charitable donations for the year.

Contributions were up on all fronts from 2015, however: foundation giving rose 6.5% to $58.6 billion; corporate giving had a 3.9% uptick to $18.45 billion; and charitable bequests went up by 2.1% to $31.76 billion.

“But these findings embody more than numbers — they also are a symbol of the American spirit,” Giving USA Foundation Chair W. Keith Curtis said. “It’s heartening that people really do want to make a difference, and they’re supporting the causes that matter to them. Americans are embracing philanthropy at a higher level than ever before.”