Reported 19 days ago
Americans donated $3.6 billion this week, marking a 16% increase from last year's Giving Tuesday, with more than 36 million people participating. Predictive research indicates a 2.6% increase in individual donations for 2024 and 3.4% for 2025. Many donors are motivated by a desire to make an impact rather than tax benefits, although tax strategies, such as group giving through 'giving circles' and donor-advised funds (DAFs), can enhance the financial efficacy of contributions. It's also advised for those over 70½ to consider qualified charitable distributions from IRAs to maximize tax advantages while supporting charities.
Source: YAHOO