NEW YORK (AP) — Charitable giving by individual Americans in 2018 suffered its biggest drop since the Great Recession of 2008-09, in part because of Republican-backed changes in tax policy, according to the latest comprehensive report on Americans’ giving patterns.
The Giving USA report, released Tuesday (June 18), said individual giving fell by 1.1%, from $295 billion in 2017 to $292 billion last year. It ended a four-year streak of increases and was the largest decline since a 6.1% drop in 2009.
Experts involved with the report said 2018 was a complex year for charitable giving, with a relatively strong economy overall and a volatile stock market. Giving by corporations and foundations increased, so that total giving — including donations from individuals — edged up by 0.7% to $427.7 billion.