Are Americans the biggest givers in the world. Maybe!
According to the American Treasury Department, it was noted that Americans gave an estimated $449.64 billion to charity last year — a 2.4% increase from 2018, making it the second highest amount on record when adjusted for inflation. In general, Americans donated the largest amount ever in 2017.
“Total giving growth in 2019 was driven primarily by an increase in giving by individuals, which may reflect larger trends such as greater distribution of wealth,” the Treasury Department said in a recent announcement.
“The American people are among the most generous in the world,” said Secretary Steven Mnuchin. “President Trump’s pro-growth economic policies have provided hard-working Americans with robust opportunities, including the opportunity to give back to their communities, organizations and causes that strengthen our country.”
“Over the past few years we’ve had a strong uptick in financial markets, and that is strongly correlated with charitable giving, especially with some of the large gifts we see. They tend to be made in appreciated stock,” said Una Osili, a professor of economics and philanthropic studies at the Lilly Family School of Philanthropy.