The holiday gifts are unwrapped, but there’s still time to give. There are still a few days left for end-of-year charitable contributions that may still be deducted from next year’s tax bill by those who will itemize.
Americans are a generous people. Despite political and economic uncertainties last year, charitable giving by individuals, estates, foundations, and corporations rose 2.7%, to $390.05 billion in 2016. Giving by individuals grew 4%, more than any other category of donor. People gave nearly $282 billion, compared to foundations, the next highest contributor, which gave a little over $59 billion.