A $20 billion drop in charitable giving in the first year of the 2017 Tax Cuts and Jobs Act’s (TCJA) implementation was caused by the law’s change to the standard deduction for individual income taxes, a new study published today in NBER finds. The research provides the first available estimates for the dollar amount of TCJA’s impact on giving.| Lilly Family School of Philanthropy
Media Contact for the FOUNDATION: PCIteamGUSA@pcipr.com Media Contact for the SCHOOL: Adriene Davis Kalugyer 317-278-8972 adrldavi@iu.edu Giving USA 2025: U.S. charitable giving grew to $592.50 billion in 2024, lifted by stock market gains 70th annual report reveals giving to most nonprofit subsectors rose in 2024 What to Know Key findings from Giving USA 2025: The| Giving USA