Americans are more generous than ever, according to research newly released by GivingUSA. We collectively donated an estimated $358 billion to charity in 2014. That beats the old record of $355 billion, set before the onset of the recession back in 2007.
Charitable donations last year were up by 7.1 percent from the revised estimate of $340 billion donated in 2013, the report said. Giving has now increased five years in a row, at an average of 5.5 percent per year.
Among the various ways people can give, the largest is individual donations, at $258.5 billion last year. But the fastest-growing has been bequests - people leaving behind charitable donations in their will. That summed to a total of $28 billion in 2014, an increase of 15.5 percent over the previous year.
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