The overall decrease is the first drop in charitable giving in the country since the Great Recession, the organization said. The tax plan slashed corporate and some individual tax rates, but it also stopped millions of Americans from qualifying for the charitable tax deduction. But donations dropped in inflation-adjusted terms last year and stood essentially flat with a 0.7 percent rise in real terms — even as the economy continued to grow. In comparison, charitable donations in 2017 grew 3 percent in inflation-adjusted terms over the previous year. Osili said stock market turbulence at the end of 2018 also might have hurt charitable donations.

Source: Washington Post June 18, 2019 13:52 UTC