Charitable Giving Passes $300 Billion in 2007

Despite worries about the economy, last year donations to public charities exceeded $300 billion for the first time.

A report from the Giving USA Foundation estimates charitable giving reached $306.4 billion last year, an increase of 3.9% from the previous year (though only a 1% increase when adjusted for inflation). Every type of public charity saw an increase in donations—the first across-the-board increase since 2001.

The foundation attributes the increase in 2007 to stock market performance in the first half of the year and increases in corporate and personal income.

Source: Giving USA 2008, www.givingusa.org.