Charitable giving remains one of the most powerful ways individuals and families can make an impact. And in recent years, Americans have continued to step up. With strong markets and increasing community needs, philanthropy has become both a personal expression of values and a strategic part of financial planning—especially for retirees and pre-retirees.
Here’s a closer look at today’s giving landscape and what these trends may mean for your own planning.
A Record Year for Generosity
In 2024, charitable donations in the U.S. reached $592.5 billion—a record high supported by strong market performance. From individuals and families to foundations and businesses, giving continues to play a meaningful role in strengthening communities.
Even during times of uncertainty, philanthropy remains one of the constants in our economy. For many, it’s not just about writing a check—it’s about aligning resources with purpose.
Corporate Matching Programs: An Underused Opportunity
Corporate giving continues to expand, and one area with significant untapped potential is employer matching gifts.
About 65% of Fortune 500 companies offer a match program, yet a staggering $6 to $10 billion in eligible matching funds goes unclaimed each year.
These programs aren’t just a bonus—they can double or even triple the value of a donor’s gift.
What’s more:
- Nearly 1 in 3 donors say they would give more if their employer offered a match.
- 84% of donors say they’re more likely to give when a match is available.
The takeaway? Awareness matters. A quick check of your employer (or your spouse’s) matching policy can significantly increase the impact of your gift.
Individual Giving Still Leads the Way
Despite the visibility of large institutional philanthropy, individual donors remain the backbone of charitable giving in America.
In 2023, individuals contributed 67% of all charitable gifts, totaling over $374 billion.
This reinforces an important truth: small acts of generosity, spread across millions of households, create extraordinary collective impact. You don’t have to be wealthy to make a meaningful difference—intentional giving at any level can shape the future of causes you care about.
How New Legislation May Influence Charitable Giving
With the passage of the One Big Beautiful Bill (OBBB) Act in 2025, several provisions will begin to affect donors starting in 2026. One key update is particularly notable for everyday givers:
New Above-the-Line Deduction for Non-Itemizers (Beginning 2026)
Non-itemizers will be able to deduct up to:
- $1,000 for individuals
- $2,000 for couples filing jointly
…for cash donations made to qualified charitable organizations.
This change may open the door for more households to receive a tax benefit for giving—something previously limited to itemizers. However, some limits and qualifications apply, so it’s wise to review how this affects your specific situation.
Tip: If charitable giving is part of your long-term financial plan, now is a good time to discuss these changes with your tax, legal, or accounting professional. They can help you determine whether the new deduction could enhance your giving strategy.
Practical Tips for Thoughtful Giving
Here are a few ways to make your charitable dollars go further:
✔️ Review employer matching opportunities
Even if you’re retired, your spouse, children, or grandchildren may have access to matching programs that multiply the family’s giving impact.
✔️ Bundle donations for tax efficiency
If you itemize sporadically, consider “bundling” multiple years of giving into one tax year to maximize deductions.
✔️ Use donor-advised funds (DAFs)
DAFs can help you give strategically by allowing you to take an immediate deduction while granting funds to charities over time.
✔️ Check charities for alignment and transparency
Use tools like Charity Navigator or GuideStar to ensure your chosen organizations operate responsibly and effectively.
✔️ Make giving part of your retirement plan
Many retirees integrate philanthropy into their legacy strategy—whether through annual gifts, qualified charitable distributions (QCDs), or estate planning.
Final Thoughts
Charitable giving is more than a financial decision—it’s a chance to shape the world according to your values. Whether you’re making a small contribution or building a long-term philanthropic plan, staying informed can help ensure your generosity has the greatest possible impact.
If you’re considering updating your giving strategy or want to understand how recent legislative changes may affect your tax planning, our team is here to help you navigate the options thoughtfully.