Washington, D.C. – United Philanthropy Forum President and CEO Deborah Aubert Thomas issued the following statement regarding Giving USA’s Report on Charitable Giving in 2023
Last week, Giving USA released its Annual Report on Philanthropy for the Year 2023. The findings of the report noted that despite strong economic indicators in 2023, inflation-adjusted total giving decreased by 2.1 percent, and giving by individuals declined by 2.4 percent, the largest drop among Giving USA’s four categories of sources of giving.
In light of this evidence, where charitable giving has now declined for the second consecutive year, United Philanthropy Forum – on behalf of our network of nearly 100 philanthropy-serving organizations (PSOs) representing more than 7,000 foundations nationwide – urges lawmakers to co-sponsor, support, and pass the Charitable Act (H.R. 3435, S. 566). This legislation would restore and expand the universal charitable deduction (UCD).
With the expiration of the deduction at the end of 2021, most Americans have had no tax incentive to give. Because individuals are a key source of funding for small nonprofits, the passage of the Charitable Act, which aims to incentivize individual giving and reverse this decline in donations by reinstating and raising this deduction to $4,600 for individuals ($9,200 for joint filers), could bolster support for essential nonprofit and charitable services.
Since its introduction at Foundations on the Hill in 2023, United Philanthropy Forum has been a leading advocate of the Charitable Act. Through the efforts of our PSO member network, sector partners, and advocates, the bipartisan legislation now has 58 cosponsors in the House and 23 cosponsors in the Senate. The revelation of this continued decline in giving indicates we have more work to do. The Forum recognizes the importance of the Charitable Act and will continue to advocate for the passage of this critical bill.
Charitable giving works and is good tax policy. By enacting the Charitable Act, policymakers can foster a culture of giving that is vital to both nonprofit charities and local governments that depend on these resources to achieve their missions in the communities we work with and in.
Learn more about the universal charitable deduction and the Charitable Act at United Philanthropy Forum’s website. You can take action to support the Charitable Act by sending a letter to your Member of Congress via the Forum's Advocacy Action Center.
Deborah Aubert Thomas
President & CEO
United Philanthropy Forum
