New York CNN —Americans got less generous in 2022, as soaring inflation and the slumping stock market took a significant toll on charitable giving.
When adjusted for inflation, giving in 2022 fell 10.5%.
Notably, the S&P 500 plummeted toward the end of the year, when a large share of charitable giving takes place.
Generous giving early in the pandemicLast year’s drop in donations comes after two very strong years of charitable giving.
In 2022, individuals, who provide the largest share of giving, curtailed their donations even before adjusting for inflation.
Persons:
Indiana University Lilly, ”, Amir Pasic
Organizations:
New, New York CNN, USA, Indiana University, Indiana University Lilly Family School of Philanthropy
Locations:
New York, Ukraine