According to The Philanthropy Outlook, a new report researched and written by the Indiana University Lilly Family School of Philanthropy, charitable giving in the United States is expected to grow by 4.8 percent in 2015 and by an additional 4.9 percent in 2016. This is good news for the charitable sector who relies on this information to plan.
Among the other key results:
- Contributions from individuals/households, estates, corporations and foundations are all expected to increase in 2015 and 2016
- Individual/household giving is predicted to increase by 4.4 percent in 2015 and by 4.1 percent in 2016. It includes giving by both households that itemize charitable deductions on tax returns and those that do not itemize.
- Foundation giving is projected to rise by 7.2 percent in 2015 and by 6.7 percent in 2016.
- Giving by estates is predicted to increase by 2.7 percent in 2015 and by 6.3 percent in 2016.
- Corporate giving is expected to grow by 6.0 percent in 2015 and by 4.8 percent in 2016.