Wednesday, November 28, 2018

A Split in Charitable Giving

Overall, the average American household is giving far less to charity than it did a decade ago, but not everyone has fallen into this pattern. Over the past 10 years, charitable giving deductions from lower-income donors have declined significantly, at almost the same rate that charitable giving from higher income donors have increased.

In the early 2000s, households earning $200,000 or more made up only 30 percent of all charitable deductions, but by 2017, this group accounted for 52 percent. And the percent of charitable deductions from households making over $1 million grew from 12 percent in 1995 to 30 percent in 2015.

Meanwhile, the number of donors giving at typical donation levels has been steadily declining. Low-dollar and mid-level donors have declined by about 2 percent each year for more than 15 years.

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