While philanthropy remains resilient, it’s in a state of flux, according to representatives from Kansas City-area nonprofits.
The philanthropic pendulum has swung widely during the past couple of years. Giving soared during the pandemic, hitting a record inflation-adjusted high in 2021, but it dropped in 2022 as concerns about the economy and inflation took hold, Giving USA reports show. Giving grew again in 2023, reaching a current-dollar record of $557.16 billion, but inflation flipped that gain into an actual 2.1% decline.
Notably, the largest source of giving — from individuals, accounting for two-thirds of philanthropic gifts — has been shrinking as a portion of overall philanthropy, the Giving USA report said. The amount rose by 1.6%, but inflation turned that into a 2.4% decline.
In a discussion moderated by Kansas City Business Journal Publisher Stacie Prosser, panelists with insights into various aspects of giving talked about current trends, rethinking the shape of donor involvement, and tips for those seeking to raise — or give — more.
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