2023 Annual Report on Charitable Solicitations in Colorado
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5. Giving trends in 2022
Each year Giving USA Foundation, The Giving Institute, and the Indiana University Lilly Family School of Philanthropy partner to produce the Giving USA report, which summarizes American’s generosity. The Giving USA 2023 reports on charitable giving in the year 2022.
Giving USA 2023 Report
| Bequests | Foundations | Corporations | Individuals | Total giving | |
|---|---|---|---|---|---|
| Amount (billions) 2022 | $45.60 | $105.21 | $29.48 | $319.04 | $499.33 |
| Percent increase over 2021 | -0.89% | 15.77% | 39.85% | -2.40% | 2.99% |
| Percent of total | 9.13% | 21.07% | 5.90% | 63.89% | 100.00% |
Highlights from the Giving USA 2023 report:
- Total giving decreased in 2022, which is unusual.
- According to Indiana University’s Lilly Family School of Philanthropy, the decline in giving was caused by drops in the stock market and high inflation in 2022.
- Individual giving as a share of overall charitable giving continues to shrink. In 2022, individual giving accounted for 67.5% of overall giving, while forty years ago, it accounted for 83% of all charitable giving.
- The 2022 results follow the two best years on record for charitable giving, including 2021 when giving surpassed $500 billion for the first time.