During a period of continued economic complexity, philanthropists, nonprofits and advisors can take some encouragement from Giving USA’s new report, which revealed that U.S. charitable giving surpassed the $600 billion mark for the first time since 2021, which reached $661 billion when adjusted for inflation, driven by a spike in giving by individuals. While these findings serve as a combined estimate rather than a precise tally of charitable giving, they can provide a valuable benchmark for the entire philanthropic sector looking to implement current-year strategic initiatives and plan for the future.
Let’s take a look at the key findings in this latest report to get a glimpse into U.S. giving trends in 2025 by donor and recipient type and how that changed from 2024.
To learn more, read the full report.
Total Giving
Total estimated charitable giving in the United States reached an estimated $617.2 billion in 2025. What’s more, total giving grew by 5.7 percent between 2024 and 2025 in current dollars (3 percent when adjusted for inflation). That marks a new high in current dollars and the second-highest amount on record in inflation-adjusted dollars, fueled by strong financial markets and broader economic growth.
Giving by individuals totaled an estimated $394.2 billion, growing 4.1 percent in current dollars (1.4 percent adjusted for inflation). Notably, while individual giving grew, experts point out that consumer sentiment remained near historic lows and may have dampened giving by some households.
As Wendy McGrady, Chair of Giving USA Foundation, noted, crossing $600 billion is “a milestone that reflects the resilience of American generosity”, even amid a volatile economy and ongoing financial pressures for many households.
“It is once again encouraging to see Americans remaining steadfast in their commitment to generosity and giving back despite economic volatility,” said Foundation Source’s National Philanthropy Executive Gillian Howell. “The increase in foundation giving reflects what we’ve seen in our most recent year-over-year analysis of the grantmaking and investing activity of more than 1,100 private, non-operating foundations, which showed incremental increases in both the number of grants and total dollars deployed from 2023 to 2024. When we asked our foundation and donor-advised fund clients about their overall giving this year, nearly half (49%) said they plan to give more while 46% said they plan to give the same. This signals a continuation of their commitment to philanthropy.”
Foundation Giving
Charitable giving by foundations also grew between 2024 and 2025—in this case by 5.7 percent, reaching an estimated total of $117.15 billion. When adjusted for inflation, foundation giving rose 3 percent. Encouragingly, giving by foundations has now remained above $100 billion each year since 2020 when adjusted for inflation, and 2025 saw strong growth in that stretch—likely a reflection of rising asset values tied to recent financial market performance.
Bequest Giving
Bequests were the standout story of 2025. Giving through bequests increased to an estimated $62.19 billion, a roughly 20 percent jump in current dollars (16.6 percent adjusted for inflation)—by far the largest increase of any of the four giving sources (individuals, bequests, foundations and corporations). Bequest giving has now risen 20 percent or more in current dollars in three of the last four years, though it’s worth remembering that this source historically fluctuates substantially from year to year.
“For those of us involved in planned giving, the standout story of the Giving USA Report is undoubtedly the growing momentum of charitable bequests, which jumped by nearly 17% in 2025,” said PG Calc Senior Advisor Craig Wruck. “Strikingly, this marks the third year out of the last four that bequest giving has clocked double-digit annual increases. For years, demographic futurists have predicted an unprecedented generational wealth transfer – estimated at upwards of $18 trillion – as aging Baby Boomers pass their assets to heirs and charitable causes. This sustained multi-year spike may suggest that the opening wave of this historic transfer is upon us.”
Donor-Advised Fund (DAF) Giving
DAFs remain one of the fastest-growing charitable giving vehicles, and in 2025 they helped power nearly 12 percent growth in public-society benefit organizations – one of the strongest categories of the year. DAF contributions surged in late 2025 as donors moved to lock in tax advantages ahead of anticipated legislative changes, a signal that more donors are thinking strategically about when and how they give. DAFs continue to offer a straightforward way to give more, give thoughtfully, and give with flexibility – fueling greater charitable impact.
“The growth we’re seeing in DAF giving reflects a continued evolution in philanthropy — the flexibility of DAFs enables people to be more intentional about committing money to charitable purpose,” said Stephen Kump, President of DAF Technology at Foundation Source. “Donors, advisors, and institutions alike are increasingly recognizing DAFs as a vehicle for more meaningful, tax-efficient giving.”
Who Received The Most Contributions?
Religious organizations once again received the largest share of charitable dollars in 2025. But the most notable growth came from education, public-society benefit, and environment/animals—each posting double-digit increases in current dollars and ranking among the fastest-growing subsectors over the past five years. Corporate giving, meanwhile, saw the slimmest year-over-year growth of any source at 3.1 percent (essentially flat after inflation).
What’s Ahead For Giving?
Total giving grew 5.7 percent in current dollars in 2025 and outpaced inflation. So while “complexity” may feel like the new normal, this data signals a positive current outlook.
In the meantime, our philanthropic experts will continue to watch the charitable sector carefully. And as always, we’ll be here doing our part to serve and support philanthropists, nonprofits and advisors with modern giving solutions.
Want More Insights Like These?
Explore our Giving & Investing Trends Series.
Want to learn more about the ways we support philanthropists and their professional teams?
Schedule a call with us or reach us at 800-839-0054. Together, let’s #begiving.
