Kojo Quartey: Giving season and charitable giving

Kojo Quartey
·4 min read

The Bible says it is better to give than to receive, and I sincerely believe that. One thing that I am unequivocal about is that on a personal level, I would rather be the giver than the “receiver." However, on the professional level, I am always asking for and for many other causes in our community such as the United Way, the Bed Race for children, and other worthwhile causes. The end of the year is known as the Giving Season and that is when people give gifts to others and also to charity.

Let’s take a look at charitable giving. According to JP Morgan, Giving Season refers to the last two months of the year when charitable giving is at its peak. While many generous individuals have always given to charity, it was not until 1917 that the federal government made donations to qualifying charities tax deductible. Those who make $10 million-plus per year give the highest percentage of their income: 9.3%. The second-highest donators are, surprisingly, those who make less than $50,000. Americans who fall into this group donate 8.4% of their income on average. Here are a few salient statistics culled from doublethedonation.com/nonprofit-fundraising-statistics and donorbox.org/nonprofit-blog/nonprofit-statistics#1.

Kojo Quartey, president Monroe County Community College
Kojo Quartey, president Monroe County Community College

  • In 2022, Americans gave $499.33 billion to charity.

  • The largest source of giving came from individuals, who contributed $319.04 billion, representing 64% of total giving.

  • 21% of total nonprofit giving came from foundations in 2022, for an estimated total of $105.21 billion.

  • In 2022, the majority of charitable dollars went to the following sectors: religion (27%), human services (14%), education (13%), grantmaking foundations (11%), and health (10%).

  • 57% of donors are enrolled in a recurring giving program, up from 46% the previous year.

  • The average one-time gift in 2022 was $121, up from $115 the previous year. The average monthly gift was $25, up from $24.

  • 9% of donors participate in a workplace giving program (such as matching gifts and/or payroll donations).

  • 30% of annual giving happens in December, with about 10% of all annual donations coming in the last three days of the year.

  • The average donor in the United States is 64 years old and makes two charitable gifts a year.

  • 33% of donors give to organizations located outside of their country of residence.

  • 67% of U.S. and Canadian donors are female, while 32% are male, and 1% identify as non-binary.

  • Female donors are more likely to make a donation because of social media marketing, while male donors are more likely to give because of email messages.

  • 85% of US donors volunteer, and 81% attend nonprofit fundraising events.

  • 81% of donors contribute food or other goods to nonprofits through in-kind donations.

  • 63% of donors prefer to give online with a credit or debit card, followed by direct mail (16%), PayPal (10%), wire transfer (5%), cash (4%), digital wallet (1%), and text-to-give (1%).

  • Since 1977, charitable giving has increased every year except in 1987, 2008, and 2009.

  • 2019 was one of the highest years for charitable giving in the US. It amounted to $449.64 billion.

  • Charitable giving by foundations has grown by 17% from 2020 to 2021 in the US. In 2022, it was estimated to surpass $100 billion.

  • 60% of all American households participate in some kind of charitable giving.

  • In 2020, the average gift increased from $617 to $737.

  • In 2021, the average gift amount increased 10% to $813.

Giving Tuesday occurs every year on the Tuesday after Thanksgiving. Not only is it in the heart of Giving Season, but it falls between two major holidays in the U.S. — Thanksgiving and Christmas — so spending is already top-of-mind.

On Giving Tuesday, Americans are encouraged to embrace the spirit of generosity and volunteer, donate to charity, or simply help out someone in need. During this Giving Season, some of us plan to give of our time, talents, and treasure. In the giving spirit of Monroe, Michigan is probably the most charitable place that I have ever lived. So, if you spot any of us soliciting for Goodfellow Newspapers, or ringing the bell for the Salvation Army, please drop lots of money in our buckets.

— Kojo Quartey is the president of Monroe County Community College and an economist, he may be reached at kquartey@monroeccc.edu.

This article originally appeared on The Holland Sentinel: Kojo Quartey: Giving season and charitable giving