Increase Philanthropic Giving

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Philanthropic giving, measured by individuals who claim contributions on their tax returns, showed a significant drop in 2018. This can be attributed, in part, to federal legislation that increased the standard deduction for charitable dedication. Total itemized deductions, as of 2018, must exceed $12,000 for individuals (up from $6,350 in 2017) and $24,000 for married couples (up from $12,700 in 2017).

In 2020, as part of The CARES Act, taxpayers who don't itemize deductions may take a charitable deduction of up to $300 for cash contributions made in 2020 to qualifying organizations.

 Giving USA’s 2019 Report showed that, nationally, individual giving in 2018 was down from 2017, while giving by foundations and corporations increased. 

In 2021, SA2020 will develop a biennial survey that will look at philanthropic giving locally, further disaggregating individual giving and gaining greater insight in corporate and foundation investment.