Key facts
- U.S. charities received $617 billion in donations in 2025.
- This marks a 3% inflation-adjusted increase from the prior year.
- Bequests saw a nearly 17% increase, potentially signaling the start of the Great Wealth Transfer.
- Giving increased across all donor categories, including individuals, corporations, foundations, and bequests.
- Strong stock markets and economic growth were key drivers of increased donations.
Philanthropic donations to U.S. charities rose to $617 billion in 2025, an inflation-adjusted 3% increase from the previous year, according to the Giving USA 2026 report. This growth was observed across all donor categories, including individuals, corporations, foundations, and bequests.
Bequests, in particular, saw a significant jump of nearly 17%, marking the third double-digit increase in four years. This trend may signal the beginning of the long-predicted Great Wealth Transfer, where baby boomers pass on substantial wealth to younger generations and charities. Strong stock market performance and overall economic growth were cited as key contributors to the uptick in giving, despite economic uncertainty and political turbulence.
Charities that effectively communicated their needs and stories saw their donors respond generously. Organizations focused on education, public-society benefit, and environment/animals experienced notable increases in donations. However, giving to religious groups saw a marginal decrease of 0.2% after adjusting for inflation.
The report highlights a growing reliance on market performance for charitable giving, which could lead to increased unpredictability in donation levels. The share of total giving from individuals has also decreased over time, now accounting for 64% compared to 80% in 1985.
Megagifts, defined as contributions exceeding $600 million in 2025, amounted to $19.2 billion, representing about 4% of all individual giving. Notable megadonors included MacKenzie Scott, Michael Bloomberg, Bill Gates, and Paul Allen. While the increase in bequests suggests the Great Wealth Transfer may be underway, further data is needed for definitive confirmation.
In response to the potential wealth transfer and federal aid cuts, some nonprofits are expanding their planned giving programs, anticipating significant contributions from long-term donors and those utilizing qualified charitable distributions from retirement accounts.