Americans donated a record $617 billion in 2025
Giving USA said individual donors supplied nearly two-thirds of contributions, while bequests posted the fastest growth.
By Daniel Okafor · Business Editor
3 min read
Americans gave $617.2 billion to charity in 2025, the highest total on record, according to Giving USA Foundation. The figure shows that households and wealthy donors kept giving even as elevated costs for necessities continued to strain many budgets, according to Fortune.
The annual report was researched and written by Indiana University’s Lilly Family School of Philanthropy. Giving USA said individuals remained the largest source of charitable dollars, contributing about $394 billion, or 64% of the total.
After adjusting for inflation, individual giving rose 1.4% from the previous year, according to the report. Giving by foundations increased nearly 3% to $117 billion, a category that often includes philanthropy tied to very wealthy donors.
Bequests lead the growth
Giving through bequests rose nearly 17% after inflation, making it the fastest-growing category in the Giving USA report. Amir Pasic, dean of the Lilly Family School of Philanthropy, told Fortune the gain likely reflected the strong performance of financial markets in recent years, which lifted estate values.
The bequest increase comes as wealth advisers and philanthropists watch for signs of a generational transfer of assets. UBS has estimated that about $124 trillion will pass to millennials and Gen X by 2048, a shift that could change how charitable money is directed.
Fortune reported that younger heirs are pressing some families to move charitable funds faster and to reconsider older grantmaking habits. Melissa Stevens, executive vice president of Milken Institute Strategic Philanthropy, told Fortune that younger donors have shown more interest in impact investing, advocacy and venture-style philanthropy.
Stevens also told Fortune that many younger donors favor unrestricted gifts, a model often described as trust-based giving, in which nonprofits decide how to use the money. She said their giving priorities often include climate change, racial justice and gender equity, while older donors have tended to focus more broadly on health and education.
Wealth gains outpaced giving
The record donation total did not keep pace with the rise in billionaire fortunes. Oxfam said billionaire wealth increased 16% in 2025, a faster rate than overall charitable giving.
At the top end of philanthropy, Fortune reported that MacKenzie Scott gave $19.2 billion in 2025, about one-third of the megagifts tracked that year. Her giving included an $80 million unrestricted gift to Howard University and $40 million to the African American Cultural Heritage Action Fund, according to Fortune.
Elon Musk has taken a more skeptical view of large-scale philanthropy. Fortune reported that Musk criticized Scott’s giving and argued it was making the world “worse off.”
On the WTF podcast last year, Musk said the main problem for his foundation was finding ways to give money that actually helped people. “It is very difficult to give money away for the reality of goodness,” Musk said.
Liz Baker, CEO of Greater Good Charities, told Fortune that distributing large sums carries real responsibility. She said donors and charities must consider local needs, political conditions and the risk of creating dependence when deciding how money should be spent.
This story draws on original reporting from Fortune.