Rich Donors May Be Undeterred by Tax Caps on Charitable Gifts

Charitable donations hit a record in 2007, according to the Giving USA Foundation, a research organization in Glenview, Illinois. The group said American individuals donate $200 billion annually. IRS statistics show about 3.6 million U.S. households with adjusted gross incomes of more than $200,000 deducted about $87.8 billion in charitable gifts in 2006, the last year for which data was available. As many as 84 million in the U.S. also may donate without claiming tax deductions, according to the Independent Sector.