“Giving Tuesday” embraces big hearts and encourages people to give back. However, Americans aren’t as generous as they once were.
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A study by Indiana University's Lilly Family School of Philanthropy and Vanguard Charitable Philanthropic Impact Fund examined the effect of the 2008 Great Recession on charitable giving across several donor demographic groups and found that 20 million fewer households are donating compared to two decades ago.
The report found that between 2000 and 2016 households headed by younger generations were not giving as much money as the older groups.
However, another survey from the Chronicle of Philanthropy showed donations from upper-income earners, which account for a third of charitable contributions, were on the rise until 2015, accounting for 75 percent of all itemized giving.
Meanwhile, while touting “Giving Tuesday,” the White House said it’s not all about money, but helping to improve the lives of others.
"As you and your loved ones continue to celebrate the holiday season, I encourage you to seek opportunities this #GivingTuesday to improve the lives of others and your community," the White House said in a statement.
The #GivingTuesday movement has raised more than $1 billion online in the U.S. since it began.