Charitable giving is up: Here's what to know about donating by the end of the year

Published On Dec 7, 2024, 11:30 AM

Charitable giving in the U.S. has seen a significant rise, with a 16% increase in donations reaching $3.6 billion during this year's Giving Tuesday compared to 2023. More Americans are participating in charitable giving, with projections indicating an increase in individual giving by 2.6% in 2024 and 3.4% in 2025. Giving circles, where groups pool their donations for greater impact, have become a popular trend. Tax strategies, such as making donations from IRAs or using donor-advised funds, can enhance the financial benefits of giving. Overall, the trend of increasing charitable contributions reflects a growing commitment among individuals to support their communities and causes they care about, especially toward the year-end.