Giving by Individuals/Household
Giving by individuals/households includes cash and non-cash donations contributed by all American individuals and households to U.S. charities—including those who itemize their charitable contributions on their income taxes and those who do not.
According to the baseline projection alone, giving by individuals/households would have increased in 2018 and 2019. The exceptional circumstances created by tax policy changes have complicated this picture. Click here for a more detailed analysis.
Specific factors that will significantly and positively influence individual/household giving in 2018 and 2019 include:
- Close-to-average growth in personal income,
- Close-to-average growth in household and nonprofit net worth,61
- Close-to-average growth in the S&P 500 in preceding years, and
- An increase in the preceding year’s consumption.
A large body of work demonstrates, with few exceptions, the link between personal household income and wealth and philanthropic giving.62 In general, as income and wealth increase, so do the amounts that households give to charity.