June 22, 2023 6:31 pm ET
High inflation is hitting America’s charities. Donations last year dropped by 3.4% from 2021 levels, or 10.5% after adjusting for inflation, according to the Giving USA report released this week. Never in its more than 60-year history has this annual report recorded so steep a single-year decline in real dollars. Researchers at Indiana University’s Lilly Family School of Philanthropy, who produce the report with the Giving USA Foundation, cited declines in real income and the stock market.
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