Americans donated more money to charity in 2024 than at any point in history. Here’s what’s driving it, who’s giving, and how to make sure the IRS is chipping in too.
Americans gave $592.50 billion to charity in 2024, up 6.3% from the prior year and still 3.3% higher after inflation, according to the Giving USA 2025 report. To put that in perspective, it’s larger than the entire GDP of Sweden. A surging stock market, strong employment, and a generous base of individual donors all contributed.
The story behind the headline number is worth understanding, whether you’re a donor, a business owner, or both.
Who’s Actually Giving
Individuals still do the heavy lifting. Of the $592.50 billion total, individuals contributed $392.45 billion, or about 67 cents of every dollar donated. Foundations added $109.81 billion, bequests accounted for $45.84 billion, and corporations contributed $44.40 billion.
Who’s giving — 2024 totals ($592.5B) | Source: Giving USA 2025
That individual dominance has been consistent for decades, which matters for tax planning. Most of the rules, limits, and strategies that affect charitable deductions are designed around personal returns, not corporate ones.
Where the Money Goes
Religion remains the single largest recipient category at $146.54 billion, roughly 25% of all giving, though it grew slower than the overall market. Human services came in second at $91.15 billion, followed by education at $88.32 billion, which posted a strong rebound of 13.2%.
Where the money goes
Source: Giving USA 2024
Public-society benefit organizations saw the biggest percentage jump at 19.5%, finishing at $66.84 billion. Health, arts and culture, environment and animals, and international affairs all posted gains. Education, health, arts, and environment each hit all-time highs even after adjusting for inflation.
The Tax Rules, Including What Changes in 2026
This is where most people leave money on the table.
For individuals, cash donations are deductible up to 60% of adjusted gross income. Appreciated assets like stock and crypto follow different limits, generally 30% of AGI, but come with a significant upside: you avoid capital gains tax entirely on the appreciation.
For the roughly 90% of taxpayers who take the standard deduction and currently get nothing for charitable giving, 2026 brings a meaningful change. The One Big Beautiful Bill introduces an above-the-line deduction for non-itemizers of up to $1,000 for single filers and $2,000 for married filing jointly on cash donations. Donor-advised funds and private foundations are excluded.
Itemizers aren’t untouched. A new 0.5% AGI floor means only donations above that threshold count. And donors in the top 37% bracket will see the deduction value capped at 35%. Carryovers remain available when you exceed annual limits.
For businesses, charitable contributions are treated as a business expense and deductible up to 25% of taxable income. Starting in 2026, a 1% of taxable income floor applies. C-corps often time large gifts to high-profit years to maximize the deduction’s impact, and many use giving programs for employee engagement and brand positioning.
The key structural difference: individuals deduct on Schedule A or via the new above-the-line provision; businesses deduct directly against corporate taxable income. Both get the most value from donating appreciated assets.
Five Things Most Donors Overlook
Donor-advised funds. You contribute to a DAF, take the deduction immediately, invest the funds tax-free, and distribute grants on your own timeline. They’ve grown dramatically in popularity with high-net-worth individuals and corporations looking for flexibility. Note that the new 2026 above-the-line deduction excludes DAF contributions.
Crypto giving. Donating Bitcoin, Ethereum, or other appreciated crypto directly to a charity or DAF gives you a fair-market-value deduction and eliminates the capital gains tax you’d owe if you sold first. It’s one of the cleanest tax moves available for crypto holders sitting on gains.
Bunching. Concentrating two or three years of charitable giving into a single tax year can push you over the standard deduction threshold and make itemizing worthwhile, or clear the new 0.5% AGI floor that kicks in for itemizers in 2026.
Qualified Charitable Distributions. If you’re 70½ or older, you can transfer up to $105,000 per year directly from an IRA to a qualified charity. It counts toward your required minimum distribution, never touches your AGI, and sidesteps the income inclusion you’d face if you withdrew and then donated.
Non-cash giving beyond assets. Corporate matching programs, employee volunteer initiatives, and impact investing are all growing. Many employers match donations dollar for dollar, effectively doubling the gift at no additional cost to the employee.
The Bottom Line
$592 billion is a remarkable number, but the more relevant question is whether your giving strategy is as efficient as it could be. With new rules taking effect in 2026, particularly the above-the-line deduction for non-itemizers and the floors hitting itemizers and top-bracket donors, this year is a good time to review your approach with a CPA before the landscape shifts.