Americans gave a record $358 billion to charity in 2014, showing that philanthropy has fully recovered from the recession and surpassed its all-time peak.
The Giving USA Annual Report, published by the Giving USA Foundation and researched and written by the Indiana University Lilly Family School of Philanthropy, said giving increased 7.1 percent over 2013, making the fifth straight year it rose. The 2014 total is the first time giving topped the 2007 inflation-adjusted peak of $355 billion.
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About three quarters (or 72 percent) of the giving came from individuals, while 5 percent came from corporations, 15 percent from foundations and 8 percent from bequests. Megagifts of more than $200 million—mainly from tech entrepreneurs—were a significant contributor, the report said.