Constancy Charitable, an unbiased public charity and grantmaker, distributed $11.8 billion in donor-recommended grants in 2023—greater than 4 occasions the quantity distributed ten years in the past, based on its 2023 Giving Report. Regardless of inflation and ongoing financial considerations, giving was up by over half a billion {dollars}, making 2023 essentially the most impactful yr up to now for Constancy Charitable.
“The American custom of philanthropy continues to encourage and defy expectations,” mentioned Constancy Charitable President Jacob Pruitt. “As extra donors and firms flip to smarter, extra versatile giving avenues just like the donor-advised fund, we anticipate to proceed to see an increase in generosity and, in impact, an increase in affect.”
Greater than 322,000 donors beneficial over 2.3 million particular person grants to just about 199,000 distinctive charities worldwide, offering important help in a yr of financial uncertainty. A median of 11.8 grants have been beneficial to charities per particular person account.
For the primary time, the report spotlights granting from the company donor-advised fund. At present, greater than 500 corporations use the Company Giving Account to help their company philanthropy packages. These corporations actively beneficial a median of 65 grants in 2023 from their accounts, with a median grant quantity of almost $11,000.
As nonprofits have struggled with funding wants previously a number of years, a formidable 63% of 2023 donor grant suggestions have been designated “the place wanted most.”
Different 2023 Giving Report highlights embrace:
- Constancy Charitable distributed over a half a billion extra {dollars} in donor-recommended grants to charities in 2023 than within the earlier yr.
- The typical grant dimension was $4,600, and the median account steadiness was $21,000.
- Almost 80% of grants in 2023 went to nonprofits beforehand supported, demonstrating donors’ dedication to offering a dependable, constant stream of income to their favourite charities, .
- A complete of 63% of Constancy Charitable contributions have been made within the type of extra strategic non-cash belongings, enabling donors to provide extra.
- Donors contributed $1.4 billion in non-publicly traded belongings, similar to restricted inventory, non-public fairness, and restricted partnership pursuits. Constancy Charitable consultants assist donors establish the neatest belongings to contribute and rapidly convert these difficult-to-donate belongings into money obtainable for granting.
- On common, three-quarters of donors’ contribution {dollars} are granted inside 5 years of receipt. This steady circulation of grant funds to charities is constant from yr to yr—reflecting the regular help that donor-advised funds present for the nonprofit sector.
- Constancy Charitable’s incremental lifetime funding progress has created $22.2 billion in extra funds for charitable causes.
The previous press launch was offered by an organization unaffiliated with NonProfit PRO. The views expressed inside don’t straight mirror the ideas or opinions of the employees of NonProfit PRO.