In 2023, America’s greatest donors gave $11.9 billion to their favourite causes, down by 27.8% from the earlier yr, in response to the Chronicle of Philanthropy’s Philanthropy 50, launched this week.
Solely 23 households, people and {couples} on the 2023 Forbes 400 record of the richest People made it onto this yr’s Philanthropy 50. That doesn’t essentially imply that a number of the nation’s wealthiest individuals are not huge givers.
The Chronicle famous that some billionaires usually fail to make the Philanthropy 50 as a result of, regardless of giving very massive quantities, they don’t make items yearly. Others give anonymously or decline to publicize their charitable giving or disclose particulars about it to the Chronicle — and usually are not legally required to take action.
Take into account MacKenzie Scott, maybe probably the most notable absence on the Philanthropy 50 record. The Chronicle stated that she might have made items to her donor-advised fund that would have earned her a spot on this yr’s record, however she and her representatives declined to supply the Chronicle with such info.
The Chronicle reported that Scott gave greater than $2.1 billion to charities in 2023 via her Yield Giving fund, however she won’t present particulars about how a lot cash she is funneling into the grant maker.
The brand new record of America’s greatest donors relies on items and pledges of money, inventory and land in 2023 to organizations with charity or basis standing beneath part 501(c)(3) of the Inner Income Code.
The Chronicle talked to quite a few charities, philanthropists and their representatives to be taught extra about massive donations that have been made publicly final yr, in addition to the philanthropy of main donors who gave quietly.
Researchers counted items made to donors’ household foundations and donor-advised funds however didn’t embrace disbursements from these grant-making automobiles within the rankings with a view to keep away from double-counting.
See the accompanying gallery for the Philanthropy 50’s high 15 donors in 2023.
