Philanthropy Surges to Record $358 Billion

Charitable giving rose 5.4 percent last year to a record $358.4 billion, according to estimates released today by "Giving USA," the annual snapshot of American philanthropy.

The figures show that donations from individuals, corporations and foundations last year topped the record giving figure achieved in 2007, just before the recession started to affect donation figures. The recovery was the shortest on record after such a devastating and deep recession and was also far faster than experts had predicted. Some had said it would take a decade or more until giving bounced back.

"Giving USA" says now that the 2009-to-2014 recovery is the fastest on record in the past 40 years. The report, researched and written by the Indiana University Lilly Family School of Philanthropy, is considered the most comprehensive source of data on patterns on Americans’ charitable giving.