Charitable giving declined in 2022 for only the fourth time in the past four decades. Inflation and cost of living are believed to be the key factors behind the drop.

<div class="block">Charitable giving declined in 2022 for only the fourth time in the past four decades. Inflation and cost of living are believed to be the key factors behind the drop.</div>

Wake Up With Cheddar

Charitable Giving Sees Large Decline in 2022

Charitable giving declined in 2022 for only the fourth time in the past 40 years. In figures released yesterday. The giving USA foundation revealed a total of $499.3 billion was donated to charity this past year. That seems like a lot of money, but it's actually a 10.5% decline from the year before this drop in donation comes after record high donations in 2020 2021 of course, that was driven by the COVID-19 pandemic inflation and the rising cost of living are believed to be key factors and why so few Americans donate donated in the past year.