Giving Hits A New Record in 2020
Despite fallouts and economic hardships, Americans rallied to support COVID-19 relief, racial justice efforts, and the environment to give a record $471 Billion to charities. This news comes from Giving USA, who have been reporting some of the most comprehensive charitable data for the last 60 years.
This record bucked historical trends and predictions that giving would decline or remain flat as the recession took hold across the country. Foundations honored pledges to increase their grantmaking and hit a record $88.55 billion in 2020. The stock market recovery helped not only helped bolster foundation giving, but also individual households who gave a record $324 billion.