Charitable giving is vital to thriving communities. An extensive body of research confirms its significant value and impact of the charitable sector. Below are some resources to raise awareness about the importance of charitable giving.
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The Fundraising Effectiveness Project provides a comprehensive overview of the current state of philanthropic giving, highlighting both encouraging trends and ongoing challenges. This is a project of the Association of Fundraising Professionals and GivingTuesday. The Q3 report shows:
This report examines the effect of itemized charitable giving, as tracked by the IRS, following the enactment of the Tax Cuts and Jobs Act of 2017. It finds that such giving, measured as a percentage of adjusted gross income, decreased overall because far fewer households itemized their tax returns. As a result, only the most affluent taxpayers, who continued to itemize their tax returns, retained a tax incentive for charitable giving.
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The longest-running and most comprehensive report on the sources and uses of charitable giving in America, is published by Giving USA Foundation, a public service initiative of The Giving Institute.
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Penn Wharton Budget Model (PWBM) previously analyzed the effects of the Tax Cuts and Jobs Act (TCJA) on the budget and the economy.
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Independent Sector, with the Do Good Institute at the University of Maryland, announced on April 23, 2024 that the estimate for the value of a volunteer hour was $33.49 in 2023, a 5.3% increase from 2022.
Click here to view the PDF of the report.