Giving Tuesday Takes a Hit Americans: Americans appeared more willing to spend money on Black Friday and Cyber Monday, but there was a decline in donations on Giving Tuesday. While the raw donation amount increased by 0.6% to $3.1 billion from 2022, the number of participants dropped by 10% to around 34 million, according to data from GivingTuesday Data Commons shared.
Giving Tuesday, initiated in 2012, aims to encourage philanthropy and inspire generosity on the first Tuesday after Thanksgiving. Despite the decline in participation, the broader trend suggests that charitable giving may be facing challenges. A June report by Giving USA revealed that Americans are giving the lowest percentage of their disposable income since 1995. In 2022, Americans gave just 1.7% of their disposable income, with charitable giving decreasing by 3.4% from 2021 to $499.3 billion.
The economic challenges, including interest rate hikes, inflation, and pandemic-related uncertainties, may be contributing to the decline in the American spirit of generosity. The Buy Now, Pay Later trend observed during Cyber Monday, with purchases hitting an all-time high, suggests that consumers may be prioritizing immediate bargains over charitable contributions. Despite these challenges, the US remains one of the most generous countries, according to the Charities Aid Foundation’s 2023 World Giving Index.
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Our Reader’s Queries
Is GivingTuesday an American thing?
The 92nd Street Y and its Belfer Center for Innovation & Social Impact in New York City were the birthplace and incubator of GivingTuesday. This global movement has now become an independent nonprofit that inspires millions of people worldwide to give, collaborate, and celebrate generosity. GivingTuesday has successfully created a culture of giving that has touched the lives of countless individuals and communities.
How successful is GivingTuesday?
In 2023, Giving Tuesday saw a remarkable display of generosity from Americans, who donated a staggering $3.1 billion to various nonprofits and organizations. This day, which falls on the Tuesday after Thanksgiving, has become a significant event for charitable giving. The GivingTuesday Data Commons collected data on this impressive feat, and we are thrilled to witness such a remarkable display of kindness and compassion every year.
How many people participate in GivingTuesday?
This year, GivingTuesday saw a 10% decrease in participation from 2022, with 34 million adults in the U.S. contributing to causes, communities, and non-profit organizations. Despite the decline, their support remains critical as they kick off the giving season.
What is the purpose of the GivingTuesday?
Dedicated to empowering individuals and organizations to make a positive impact on their communities and the world, GivingTuesday is a non-profit organization that operates independently. The movement is supported by a global network of leaders, partners, communities, and generous individuals who work together to drive change and create a better future for all.