Giving Tuesday Surpasses $4 Billion in Donations, Signaling Potential for Robust Year-End Charitable Giving
NEW YORK (AP) – GivingTuesday, the global day of giving fueled by social media and grassroots generosity, has reached a record $4 billion in donations, demonstrating continued philanthropic momentum despite economic headwinds. The figure,tallied from Tuesday’s giving,represents a significant increase over the $3.1 billion raised in 2022, according to GivingTuesday.org.
Launched in 2012 as a counterpoint to the consumerism of Black Friday and Cyber Monday,GivingTuesday has rapidly evolved into a major force in the charitable landscape. The day encourages individuals to donate to nonprofits,volunteer time,and perform acts of kindness.
“Volunteering is a way that you can add to your impact without it costing you money,” said Nathan Rosenbaum, director of research at GivingTuesday.
While individual donations form the core of GivingTuesday’s impact, generosity extends beyond financial contributions. Manny people volunteer with mutual aid groups or directly assist family and neighbors, Rosenbaum noted. GivingTuesday’s calculations specifically focus on individual donations, excluding large gifts from corporations and foundations. This year’s total does not include the $6.25 billion pledge from Michael and Susan Dell to encourage families to claim new investment accounts created by the Trump administration.
president Donald Trump lauded the Dell’s commitment as ”one of the most generous acts in the history of our country,” announcing they would offer $250 to 25 million children 10 years old and younger to invest in the “Trump accounts,” established through summer legislation.
A significant portion of annual charitable giving occurs during the year-end season, and GivingTuesday serves as an unofficial kickoff. Rosenbaum believes the strong showing on GivingTuesday is a positive indicator for the remainder of the giving season, especially given current economic and political uncertainties.
“What we really hope is that nonprofits and community groups see this as an prospect that we are in a moment of abundance and that people are ready and willing to help,” Rosenbaum said.
Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.
