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Key takeaways

  • Giving season often refers to the final months of the year, when charitable giving is typically highest.
  • Although charitable giving has been around for centuries, U.S. tax benefits for individual charitable donations were introduced in 1917, helping accelerate organized giving.
  • The strong year-end giving tradition in the U.S. suggests giving season will remain a meaningful part of philanthropic planning.

Contributors

Perspectives Editors

J.P. Morgan Wealth Management

What is the giving season (year-end giving)?

Giving season” often refers to the final months of the year, when charitable giving typically peaks. The tradition has deep roots, and year-end giving can offer meaningful benefits for donors and the organizations they support.

The history of giving season

While charitable giving has been valued for centuries, the modern pattern of concentrated year-end giving is more recent.

A major milestone came in 1917 when the U.S. introduced a federal income tax deduction for qualifying charitable contributions by individuals.1 Since then, U.S. tax filers who itemize deductions have generally been able to deduct qualifying charitable contributions from federal taxable income – if certain requirements are met and subject to applicable limitations2 This incentive also helped support the growth of organized philanthropy, including the formation of many charitable organizations and foundations.3

In more recent decades, Americans have been driven to donate in record-breaking numbers. In 2025, U.S. donations amounted to $617.2 billion and individual gifts increased from the previous year to $394.2 billion.4

Benefits of charitable giving

Charitable giving can offer financial considerations for donors and meaningful benefits for the organizations and communities they support. These include:

  • The aforementioned tax benefit: Generally, U.S. tax filers who itemize can deduct qualifying charitable contributions, subject to requirements and applicable limitations.5 Deductions are limited to eligible charities, and the amount that can be deducted may be limited based on adjusted gross income (AGI). Because contributions typically must be made by year-end to count for that tax year, many donors concentrate giving in November and December.6 This can be an attractive benefit, particularly for higher-income individuals who may be able to reduce their tax burden.
  • Contributions to donor-advised funds generally allow individuals to take an upfront deduction for amounts contributed (subject to requirements and limitations) and recommend grants to eligible charities over time.7 In addition, investments in a donor-advised fund can generally grow without being subject to federal income tax.8
  • Charities receiving the funds are able to further the causes people care about. Donating isn’t just about taxes; a primary driver for many is what their money is going toward. This is notable especially during giving season, which of course coincides with holidays that often involve gifting, as roughly 18% of annual giving happens in December, and 36.1% in Q4.9

The future of giving season

With so many years of documented growth, it’s reasonable to expect that charitable giving will continue to increase in the future. Giving levels can be influenced by economic cycles, including recessions like 2008–2009. Even so, charitable giving has remained an important priority for many Americans.

Newer generations see the value in giving, too. While they may not have as much capital to work with, in a 2024 survey, 87% of millennials said they had made a financial donation in the past year.10 Prior generations, and others, also gave their time and expertise to causes that are important to them.

For their part, corporations are also driving the future of giving season. In 2025, companies collectively gave $43.67 billion to charity, a 3.1% increase from 2024.11

The bottom line

Giving season is a time-honored tradition in the U.S. Along with supporting important causes, charitable giving may offer tax benefits in certain situations, subject to requirements and limitations.

Although rules and regulations for charitable giving have changed over the years, Americans are still motivated to donate. With strong engagement across generations, year-end giving is likely to remain a significant part of the philanthropic landscape.

Frequently asked questions about the giving season

Why is giving season at the end of the year?

Giving season – also called “the season of giving” or “year-end giving” – aligns with both tax planning timelines and the holiday season. From a tax perspective, high-income individuals and corporations may seek to lessen their tax burden and, if so, increase donations in November and December so they can deduct them from that year’s income. More broadly, the holiday season often encourages charitable giving.

What is Giving Tuesday?

Giving Tuesday takes place each year on the Tuesday after Thanksgiving. It falls during giving season and between two major consumer holidays in the U.S. – Thanksgiving and Christmas – when consumer spending is often top of mind. The day encourages people to volunteer, donate or support others in their communities.12

Who participates the most in charitable giving?

In the U.S., individuals account for the majority of charitable giving. In 2025, individuals gave $394.2 billion – about 64% of total giving.13

References

1.

Cambridge University Press, “Founders’ Fortunes and Philanthropy: A History of the U.S. Charitable-Contribution Deduction.” (August 27, 2019)

2.

Office of the Law Revision Counsel, U.S. House of Representatives, “26 U.S.C. § 170 — Charitable, etc., contributions and gifts. (Accessed September 7, 2026)

3.

Cambridge University Press, “Founders’ Fortunes and Philanthropy: A History of the U.S. Charitable-Contribution Deduction.” (August 27, 2019)

4.

Giving USA, “Giving USA: Charitable giving rose to $617.20 billion in 2025, surpassing the $600 billion mark for the first time.” (June 23, 2026)

5.

Office of the Law Revision Counsel, U.S. House of Representatives, “26 U.S.C. § 170 — Charitable, etc., contributions and gifts. (Accessed September 7, 2026)

6.

IRS, “Publication 505: Tax Withholding and Estimated Tax.” (April 30, 2026)

7.

IRS, “Publication 526: Charitable Contributions.” (June 28, 2026)

8.

Congressional Research Service, “Tax Issues Relating to Charitable Contributions and Organizations.” (August 4, 2020)

9.

Blackbaud Institute, “2025 Trends in Giving.” (March 18, 2026)

10.

Foundation Source, “Shaping Tomorrow: How Gen Z and Millennials View Charitable Giving.” (September 16, 2024)

11.

Giving USA, “Giving USA: Charitable giving rose to $617.20 billion in 2025, surpassing the $600 billion mark for the first time.” (June 23, 2026)

12.

GivingTuesday, “What Happened on #GivingTuesday 2024?” (February 25, 2025)

13.

Giving USA, “Giving USA: Charitable giving rose to $617.20 billion in 2025, surpassing the $600 billion mark for the first time.” (June 23, 2026)

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