Giving Tuesday Surpasses $4 Billion in Donations, Signalingโค Potential for Robust Year-End Charitable Giving
NEW YORK (AP) – GivingTuesday, the global day of โคgiving fueled โby social media and grassroots generosity, has reached a record $4 billion in donations,โค demonstrating continued philanthropic momentum despite economic headwinds.โ The figure,tallied from Tuesday’s giving,represents a significant increase over the $3.1 billion raised in 2022, according to โGivingTuesday.org.
Launched inโข 2012 as a counterpoint โคto the โฃconsumerism of Black Fridayโ and Cyber Monday,GivingTuesday has rapidly evolved into a major โforce in the charitable landscape. The day encourages individuals to donate to nonprofits,volunteer time,and perform โขacts 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 โGivingTuesday.
While individual donations form the core of GivingTuesday’s impact, generosity extends โbeyond financial contributions. Manny people โvolunteer with mutual aid groups or directly assist family and neighbors,โค Rosenbaum noted. GivingTuesday’s calculations specifically focus on individual donations, excluding large gifts from corporations and foundations. This year’s โtotal does notโ include the $6.25 billionโ pledge from Michael and Susan Dell to encourage families to claim new investment accountsโ created by the Trump administration.
president Donald Trump lauded the Dell’sโ commitment โas โฃ”one of the most generousโ acts in the history of our โcountry,” announcing they would offer โค$250 to 25 million children 10 years old andโข younger to invest in the “Trump accounts,” established through summer legislation.
A significant portion of annualโ charitable giving occurs during the year-end season, and GivingTuesday serves as an unofficial kickoff. Rosenbaum believes the strong showing โขon GivingTuesday is a positive indicator for the remainder of the giving season, especially given current economic and political uncertainties.
“What โwe really hope is โthat nonprofits and community groups see this as โan prospect that we are in a moment โคof abundance and that โpeople are ready and willing toโ help,” Rosenbaum โsaid.
Associated Press coverage of philanthropy and nonprofits receives support throughโ the AP’s collaboration with The Conversation โฃUS, with funding from Lilly Endowment Inc. Theโ AP is solely responsible for this content.
