Charitable donations in the United States recorded notable growth in 2025, reaching a record level of $617 billion, supported by strong financial markets and improved economic conditions, at a time when early signs of intergenerational wealth transfer have begun to emerge through a sharp rise in bequest giving.
The "Giving USA 2026" report showed that total charitable donations rose by 3% after adjusting for inflation compared with 2024, despite continued economic uncertainty and political volatility.
Bequest giving recorded the largest jump among charitable funding sources, rising by approximately 17% during 2025 — the third double-digit annual increase in four years — reinforcing expectations that the so-called "Great Wealth Transfer" from the baby boomer generation to younger generations and charitable institutions has begun.
All donor categories recorded growth in their contributions, including individuals, corporations, foundations, and bequests. Educational organisations benefited from the largest increase in donations at 8.9%, followed by public-benefit institutions at 8.7%, and then environmental and animal organisations at 8.2%.
The study noted that the strength of financial markets played a key role in supporting charitable work, with stock market performance becoming an increasingly influential indicator of donation volumes, particularly among major donors.
Major gifts totalling $19.2 billion also stood out, led by billionaire MacKenzie Scott with donations of $6.65 billion, alongside significant contributions from Michael Bloomberg and Bill Gates, reflecting the continued pivotal role of large fortunes in supporting the American charitable sector.