What's happened
Giving USA 2026 reports 2025 philanthropy at a record $617 billion, up 3% in inflation-adjusted terms. Bequests and megagifts from a handful of ultra-wealthy donors drive the rise, with MacKenzie Scott contributing about a third of megagift dollars and Warren Buffett, Bill Gates and Michael Bloomberg among top benefactors. The stock market boom underpins broader giving across individuals, foundations, and corporations.
What's behind the headline?
Context and dynamics
- The data indicate a broad-based uptick in giving, supported by a strong stock market and positive economic signals. This is not a uniform rise; bequests and megadonor gifts are driving much of the growth, while middle-class giving has a different trajectory.
- The concentration of large gifts among a few individuals raises questions about sustainability and dependence on a small donor base for overall growth.
Implications for nonprofits
- Organizations relying on small to mid-size donors may face volatility if markets turn. Nonprofits are urged to diversify funding streams and maintain storytelling that resonates with broad audiences.
Forecast
- If stock markets continue to perform, 2026 philanthropy could mirror 2025’s gains, but growth may decelerate without broader economic momentum and stable tax incentives.
How we got here
New data from Giving USA 2026 show 2025 philanthropy rose across donor types, with bequests surging and megagifts reaching $19.2 billion, mirroring a shift in wealth transfer dynamics as stock markets buoy charitable giving. MacKenzie Scott is the era’s standout megadonor, contributing a significant portion of large gifts.
Our analysis
According to Giving USA 2026, reported by CNBC and AP News, with corroboration from Independent and Fortune summaries of the same data. Direct quotes reflect analysts and foundation leadership cited in those reports.
Go deeper
- Will more megadonors emerge, or will broad middle-class giving pick up to sustain growth?
- How might potential changes to tax incentives affect future giving?
- What sectors gain most as philanthropy shifts toward bequests and mega-gifts?
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