Answer: $373 Billion, which set a new record. With GDP of about $18 trillion, this giving figure represents about 2% of GDP.

Courtesy of Giving USA:

“The last two years represent the highest and second-highest totals for giving—and the third and fourth largest percentage increases in giving—in the past 10 years, adjusted for inflation,” said Amir Pasic, Ph.D., the Eugene R. Tempel Dean of the Indiana University Lilly Family School of Philanthropy.

Pasic added that “the share of total giving going to each type of recipient was virtually the same in 2015 as it was in 2014. During and after the recession, some donors redirected donations to assist with pressing needs. The fact that the portion of the giving “pie” destined for the various subsectors has been largely consistent for the past two years suggests that giving among the broad destination categories may be stabilizing.”

So, where are these charitable contributions going (sure wish this was a pie chart!)?

• Religion—at $119.30 billion, 2015 giving increased 2.7 percent in current dollars, and 2.6 percent when adjusted for inflation.
• Education—giving increased to $57.48 billion, 8.9 percent more in current dollars than the 2014 total. The inflation-adjusted increase was 8.8 percent.
• Human Services—its $45.21 billion total was 4.2 percent higher, in current dollars, than in 2014. The inflation-adjusted increase was 4.1 percent.
• To Foundations—at an estimated $42.26 billion in 2015, giving declined 3.8 percent in current dollars and decreased 4.0 percent when adjusted for inflation.
• Health—the $29.81 billion estimated for 2015 giving to this category was 1.3 percent higher, in current dollars, than the 2014 estimate. When adjusted for inflation, the increase was 1.2 percent.
• Public-Society Benefit—the $26.95 billion estimate for 2015 increased 6.0 percent in current dollars over 2014. When adjusted for inflation, the increase was 5.9 percent.
• Arts/Culture/Humanities—at an estimated $17.07 billion, growth in current dollars was 7.0 percent in 2015. When adjusted for inflation, the increase was 6.8 percent.
• International Affairs—the $15.75 billion estimate for 2015 increased 17.5 percent, in current dollars, from 2014. The increase was 17.4 percent when adjusted for inflation.
• Environment/Animals—the $10.68 billion estimate for 2015 was up 6.2 percent in current dollars, and 6.1 percent when adjusted for inflation, over 2014 giving.

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We look forward to creating a Philanthropy lesson later this summer. Have any good ideas or resources? Please pass them along to me at tim@nextgenpersonalfinance.org!

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.