In 2023, America’s greatest donors gave $11.9 billion to their favourite causes, down by 27.8% from the earlier 12 months, in line with the Chronicle of Philanthropy’s Philanthropy 50, launched this week.
Solely 23 households, people and {couples} on the 2023 Forbes 400 listing of the richest Individuals made it onto this 12 months’s Philanthropy 50. That doesn’t essentially imply that a few of the nation’s wealthiest persons are not massive givers.
The Chronicle famous that some billionaires recurrently fail to make the Philanthropy 50 as a result of, regardless of giving very massive quantities, they don’t make presents yearly. Others give anonymously or decline to publicize their charitable giving or disclose particulars about it to the Chronicle — and aren’t legally required to take action.
Take into account MacKenzie Scott, maybe probably the most notable absence on the Philanthropy 50 listing. The Chronicle stated that she could have made presents to her donor-advised fund that might have earned her a spot on this 12 months’s listing, however she and her representatives declined to supply the Chronicle with such data.
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 listing of America’s greatest donors relies on presents and pledges of money, inventory and land in 2023 to organizations with charity or basis standing below part 501(c)(3) of the Inside 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 12 months, in addition to the philanthropy of main donors who gave quietly.
Researchers counted presents 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 prime 15 donors in 2023.