What Giving USA's Report for Year 2024 Means for Health Care Philanthropy
- Pamela Ronka Maroulis, FAHP, CFRE
- 3 days ago
- 4 min read
By Pamela Maroulis, FAHP, CFRE, John F. Donovan, CFRE and Cindy Reynolds, FAHP, CFRE
Each year, Giving USA Foundation, a public service initiative of The Giving Institute, shares data and trends about charitable giving. Accordant is pleased to share highlights from Giving USA: The Annual Report on Philanthropy for the Year 2024 and our insights as to how organizations can apply this knowledge to increase philanthropic results.
Data is now released from the Giving USA 2025: The Annual Report on Philanthropy for the Year 2024, and there is much to celebrate. Total charitable giving reached $592.5 billion—marking the second-highest total on record and exceeding 2019 levels by more than 10%, even after adjusting for inflation. A strong economy, financial market performance and gross domestic product contributed to an overall favorable picture despite lagging inflation. People give when they feel secure, and this year’s data supports that link between financial security and giving. Additionally, the technology sector did well, driven by excitement behind artificial intelligence, which helped boost an already bullish market.
Total giving grew 6.3% in current dollars (3.3% adjusted for inflation), reaching a new high, and every subsector saw increases in giving in current dollars (seven of the nine subsectors saw increases when adjusted for inflation). Most notably for our health care philanthropy work, the health sector received 10% of all charitable donations, totaling $60.51 billion—increasing by almost $7 billion over 2023. By digging into these numbers, we see several interesting trends that should be considered as philanthropy staff continue their good work.
Individuals Remain the Leading Source
Looking at the sources of giving, individuals remained the largest at 66%—with $392.45 billion coming from current gifts and $45.84 billion from bequests under will. While this is a decrease from ten years ago, individual giving remains sizable. This number was spurred by a healthy financial and economic outlook in 2024. While the outlook for 2025 remains uncertain, it will be critical to separate data from perception as we assess how reduced public funding and market volatility may impact charitable organizations.
Corporate Giving Reaches New Peak
Corporate giving was again at 7% but had a record high total giving of $44 billion—the highest growth percentage (9.1%) of any source. Corporate pre-tax profit benefits significantly influenced corporate giving and provided incentives to give. Corporations also demonstrated innovation in giving through matching dollars and workplace campaigns.
Foundation Giving Remains Strong and Evolving
Foundation giving accounted for 19% of total contributions, reaching a record high of more than $100 billion for the third consecutive year. Market growth has helped increase wealth—we see this in the fact that more than half of all foundations are family foundations. Grantmakers typically use a rolling average of three to four years, so the steady growth in recent years bodes well for the ability of foundations to make grants. Foundations are also adopting new giving strategies: flexible grants, operating expense support, loan programs, fewer restrictions on gifts and fewer strings attached. Building on the growth in foundation giving, we also see indications that some foundations are willing to consider increasing their payout percentages beyond the statutory rate of 5% to respond to changing financial circumstances.
DAFs Attract More Donors
Additionally, contributions to donor-advised funds (DAFs) increased and are expected to remain a popular mechanism in the future. A fun fact from the data: 19% of the largest gifts in 2024 went to DAFs compared to 6% the prior year. We are also seeing more average-level donors begin to contribute to DAFs—not just the super wealthy. This is excellent news for philanthropy leaders because, on average, DAF donors grant money out of their funds at a rate of 25% or higher to accomplish their charitable goals.
Bequests See Expected Variability
Bequests were down a little, reflecting the common variances in this type of giving and possibly reflecting older donors using other giving vehicles during their lifetime. The large individual numbers reflect an improved consumer sentiment from 2023 as well as inflation being lower than in previous years.
What we can take from this data is the need to stay focused on sharing impact with our donors as well as maintaining strong personal relationships with them. Donor participation is declining while dollars contributed are increasing, so it will be important to pay close attention to donor retention strategies. Seeing the strength of contributions from corporations and foundations means we need to do more work with those partners. Relationship-building is just as important with lead contacts at corporations and foundations as they are with individuals. Take the time to listen to your corporate partners share their community goals and demonstrate how your health organization can help them meet those goals. Trust is the common thread throughout all our relationship building and must be central to our efforts.
About the Authors: Pamela Maroulis, FAHP, CFRE is President and Principal Consultant with Accordant, specializing in building relationships and helping donors support their passions. Pam can be reached at Pam@AccordantHealth.com or through LinkedIn. John F. Donovan, CFRE, is a Principal Consultant with Accordant. He specializes in campaign strategies and implementation. John can be reached by email at John@AccordantHealth.com or through LinkedIn. Cindy Reynolds, FAHP, CFRE, is a Principal Consultant with Accordant. She specializes in strategic planning, campaigns, board engagement and philanthropy operations. She can be reached at Cindy@AccordantHealth.com or through LinkedIn.
