Giving Crosses $100 Billion as Foundation Assets Hit a Record

Private US foundations surpassed $100 billion in giving for the first time last year as assets surged to an all-time high, according to a report from FoundationMark.

Rich benefactors’ charitable organizations held roughly $1.64 trillion in 2024, up nearly 12% from the prior year, said the firm, which tracks private foundations’ assets and performance. That allowed them to distribute an estimated $105 billion in grants.

The increase reflects two strong years of investment performance, as the S&P 500 Index posted its bestback-to-back annual gains since the late 1990s. The ultra-wealthy were the biggest beneficiaries, with the world’s 500 richest ...