Giving USA 2026: What the Latest Data Means for Capital Campaigns

Last year, we summarized Giving USA 2025 (which reported on 2024 philanthropy trends) and what the findings meant for nonprofits planning or running capital campaigns.

The newest report, Giving USA 2026, offers another encouraging headline, along with a few signals campaign leaders should watch closely.

Total charitable giving in the United States reached an estimated $617.20 billion in 2025, passing $600 billion for the first time. Giving increased 5.7% in current dollars and 3% after adjusting for inflation. Giving USA also reports that 2025 was the second highest year on record in real terms.

That is good news for the sector. It also reinforces something we see every day in campaign work. Donors are still giving, major gifts are still moving, and organizations with a clear case and strong donor relationships can raise significant money.

Giving USA: What the Data for 2025 Shows

Giving USA 2026 reports growth from all four major sources of giving:

• Individual giving reached $394.2 billion, which represents 64% of total giving. It grew 4.1% in current dollars and 1.4% after adjusting for inflation.
• Foundation giving reached $117.15 billion, up 5.7% in current dollars and 3% after inflation.
• Bequest giving rose to $62.19 billion, up 19.7% in current dollars and 16.6% after inflation.
• Corporate giving reached $43.67 billion, up 3.1% in current dollars and essentially flat after inflation.

Bequests were the standout. Giving USA notes that bequests have increased 20% or more in current dollars in three of the last four years. Historically, bequests can fluctuate from year to year, so this sustained strength deserves attention.

On the recipient side, eight of nine subsectors grew in current dollars. Education, public society benefit, and environment and animals saw the strongest current dollar growth. Giving to religion, still the largest category, grew in current dollars and was essentially flat after adjusting for inflation. Giving to foundations declined after a record high in 2024, though Giving USA notes that it remained among the highest years on record.

The Good News for Capital Campaigns

The latest Giving USA data supports a simple point. Capital campaigns can succeed in this environment.

Strong financial markets helped lift giving in 2025. That matters for campaigns, since lead and major gifts often come from donors whose capacity is tied to appreciated assets, investments, business ownership, and long term wealth. Giving USA also points to strong foundation giving and exceptional growth in bequests, both of which can matter for campaign planning.

For organizations preparing for a campaign, this is a reminder to keep moving when the fundamentals are strong. If you have a compelling case, committed leadership, a realistic gift range chart, and a qualified prospect list, the broader giving environment should give you confidence.

The Concern: Fewer Donors Are Carrying More of the Load

The headline number is positive, but it does not tell the full story.

The Fundraising Effectiveness Project reported that total dollars raised grew by an estimated 5% in 2025, the strongest growth rate in five years. At the same time, the number of donors declined by 3.6%, continuing a trend that began in 2021.

BBB Give.org also highlighted the declining share of giving that comes from individuals. Individuals accounted for 64% of charitable contributions in 2025, down from 80% between 1986 and 1990.

For campaign leaders, this matters. Capital campaigns have always depended on a small group of lead donors. That structure has not changed. Yet when overall giving becomes more concentrated, campaigns can become more vulnerable to delays or hesitation from a small number of prospects.

That does not mean organizations should wait. It means they need to plan carefully, build strong relationships, and avoid overestimating donor readiness.

Planned Giving Deserves More Attention

The surge in bequest giving should get the attention of every campaign leader.

Planned gifts rarely replace the cash and pledge commitments needed to reach a campaign goal. Still, they can play an important role in a broader campaign strategy, especially for endowment, long term sustainability, and legacy priorities.

If your organization is preparing for a campaign, this is a good moment to review how planned giving fits into your donor conversations. Loyal donors who have supported your organization for many years may be open to discussing a legacy gift, especially when your campaign points to a bold future.

Foundation Strategy Still Matters

Foundation giving has now remained above $100 billion for three straight years, according to Giving USA.

For capital campaigns, this reinforces the value of a thoughtful foundation strategy. Foundations rarely carry an entire campaign, but they can provide important early commitments, matching opportunities, project support, or credibility with other donors.

Campaign leaders should look carefully at which foundations are already aligned with their work, which ones have supported similar projects, and which may be interested in broader community impact. Collaboration with peer organizations may also strengthen some proposals, especially when the campaign addresses a shared community need.

What Capital Campaign Leaders Should Do Now

The Giving USA data points to several practical steps campaign leaders should consider as they plan for the months ahead:

Move forward when your organization is ready. The latest Giving USA report points to a strong giving environment, especially among donors with significant assets. External conditions will always shift. Campaign timing should be based on your organization’s readiness, your case for support, and your donor pipeline.

Keep major gifts at the center. The structure of a capital campaign still depends on lead gifts. Strong campaign planning requires honest prospect review, clear gift expectations, and disciplined donor engagement.

Pay attention to planned giving. Bequest growth is one of the clearest signals in the report. Planned giving should be part of your long term fundraising strategy and may have a place in your campaign conversations.

Strengthen your foundation outreach. Foundation giving remains strong. Campaigns with clear priorities, measurable outcomes, and strong leadership are well positioned to engage institutional funders.

Broaden participation where you can. Major gifts will carry the campaign, but broader donor participation still matters. It builds community ownership, creates momentum, and helps more people see themselves in the future of your organization.

Key Takeaways for Campaign Success in 2026

Giving USA 2026 shows that charitable giving remains strong, even in a complex economic environment. The sector passed a major milestone in 2025, with total giving exceeding $600 billion for the first time.

For capital campaigns, the message is clear. There is money available for compelling projects led by organizations that are prepared to ask well.

At the same time, the donor base continues to narrow. That makes planning, relationship building, and clear communication even more important. Campaigns that rely on hope alone will struggle. Campaigns grounded in strong data, engaged leadership, and disciplined donor strategy have every reason to succeed.