Giving USA Foundation today (June 14, 2016) reported that in
calendar 2015 $373.25 billion was contributed to charity in the US. Gifts from
living individuals, and bequests, remain the single largest category of
combined support at 80% -- consistent with decades of past reporting. Bequest
giving is likely underreported because many estates are too small to be taxed
and therefore don’t show in the IRS data
on which Giving USA depends.
Religious giving continues to
lead the way as the largest recipient of charity at 32%. But over time
religious giving has been declining. Data aside what the numbers tell us is
first that US philanthropy is historically robust; even in hard times (2008-9),
philanthropy dips less than other sectors of the economy. Second, Americans may
or may not be more generous than others; that is not quantifiable. But for sure
US taxpayers subsidize giving through the charitable deduction. In most
economies, people get more back from their governments in services, support of
health, education, welfare, the arts and so on in exchange for the higher taxes
they pay. Accordingly, in this nations, there is less incentive to make
charitable donations. In recent years, in many key economies, this has changed
as governments have been pulling back on traditional support.