Charitable giving by Americans in 2013 probably increased by 13% over 2012, Atlas of Giving said in a recent report on November totals.
The outlook for the next 12 months is less optimistic, however, with an expected increase of 5.5%, the report said.
At the end of November, charitable giving amounted to $380 billion, compared with $338 billion a year ago — a 12.4% rise — and was expected to end the year at $417 billion, ahead of last year’s $369 billion.
Charitable gift sources, whose proportions have remained steady since 2011, will be the same in 2013, the report said:
- Individual contributions, 75% of the total, will by grow by 12.3% to $277 billion
- Foundation giving, 13% of the total, will increase by 18.6% to $49 billion
- Bequests, 7% of the total, will increase by 11.3% to $25 billion
- Corporate contributions, 5% of the total, will grow by 9.7% to $18 billion
Religion will again be the biggest giving sector in 2013, accounting for 35% of total contributions.
Education and health will retain the next two spots, at 16% and 8% of total giving, respectively.
Human/disaster services, 12% of total sector giving, will show the largest increase in 2013, up 18.7%.
Check out 3 Charity Strategies to Cope With Rising Taxes on ThinkAdvisor.