Charitable giving finally surpasses pre-crisis levels

Bequests jump thanks to generous giants including former Buffalo Bills owner Ralph Wilson and the Bill and Melinda Gates Foundation.
JUN 17, 2015
Philanthropy reached a record high last year, finally surpassing the amount donated before the recession depressed Americans' charitable giving. Donations rose 5% in 2014 when adjusted for inflation, to $358.38 billion, just a hair above the pre-recession level of $355.17 billion in 2007, according to the Giving USA 2015 report released Tuesday. Philanthropic giving fell as low as $303 billion in 2009, a year the world was slipping toward global economic crisis and the markets hit bottom.

Source: Giving USA 2015 report

“This 60-year high for total giving is a great story about resilience and perseverance,” said W. Keith Curtis, chairman of the Giving USA Foundation, which publishes the annual giving report. Individuals gave 72% of the total last year, while bequests only represented 8% of donations. Bequests, though, showed the greatest percentage increase last year, jumping 13.6% to $28.13 billion, the report found.

Source: Giving USA 2015 report

That jump was in part because some Goliath U.S. estates were settled in 2014, including $1 billion from former Buffalo Bills owner Ralph Wilson. Mr. Wilson was the second-most generous giver last year, topped only by the Bill and Melinda Gates Foundation, which donated $1.9 billion, according to the Chronicle of Philanthropy.

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.