Giving Is Back: Insights from the 2025 Giving USA Report with Wendy McGrady

Nonprofit Nation with Julia Campbell | October 1, 2025
Guest: Wendy McGrady, President & COO of The Curtis Group, Chair of the Giving USA Foundation

Episode Overview

In this episode, host Julia Campbell welcomes Wendy McGrady to discuss the 2025 Giving USA Annual Report and the current state of philanthropy. They explore 2024’s record-breaking charitable giving numbers, the nuanced story behind them, and actionable strategies for nonprofit professionals. Key themes include the health of giving in America, the critical gap between dollar amounts and number of donors, the evolving nature of generosity, and essential steps nonprofits can take to adapt and thrive.

Key Discussion Points & Insights

1. 2024: A Record Year for Charitable Giving

• Main Takeaway: Charitable giving surged in 2024, with a 6.3% increase, finally outpacing inflation (+3.3% when adjusted).
• Core Drivers:
  • Economic optimism—moderating inflation (down to 3%), GDP growth over 5%, S&P up 23.3%.
  • “People give big when they’re feeling economically and financially secure.”
    — Wendy McGrady [03:15]
  • Major donors’ giving correlates closely to strong market/asset performance.
• Key Indicators to Watch:
  • “If you had to boil it all down, keep an eye on [the] S&P and GDP for the future.”
    — Wendy McGrady [03:43]

2. The Culture of Giving and Generosity in America

• Long-term Trends: The U.S. has 70 years of giving data—giving increases over time, but the number of households giving is shrinking.
• Varieties of Generosity:
  • Generosity extends far beyond financial donations, including volunteering and informal support.
  • Generational differences:
    • Boomers are still the backbone of major giving.
    • Younger generations are more responsive to digital and peer-driven appeals and combine time, skills, and money.
  • “As a country, we are still very generous in many ways.”
    — Wendy McGrady [09:10]

3. Dollars Up, Donors Down: An Alarming Trend

• The Paradox: While total giving climbs, fewer people are giving—especially small donors.
• “We call it dollars up, donors down.”
  — Wendy McGrady [13:37]
• Implications:
  • Large gifts from fewer donors are masking a significant drop in grassroots, small-dollar giving.
  • The Fundraising Effectiveness Project (FEP) reports that 0-$100 donors are 57% of all donors measured, but their total giving is shrinking.
  • “The trend is alarming right now...We want everyone to feel like they’re invested and can make a difference.”
    — Wendy McGrady [15:39]

4. Messaging, Storytelling, and Being Relevant

• Current Moment Challenges: Nonprofits often hesitate to reflect immediate, sometimes uncomfortable, realities in donor communications out of fear of being polarizing.
• Julia Campbell’s advice: “We really need to be honest with our communities and our audience and our donors, and we need to talk about what’s happening.” [22:00]
• The danger of not telling the real story: Donors “can’t read minds...We’ve got to tell them.”
  — Wendy McGrady [24:47]
• Urgency in Communication: “If your reality is different and you’re not consistently communicating to me as a donor...what’s going to call me to step up and increase my giving this year?”
  — Wendy McGrady [21:44]

5. Making Data Actionable: Top Recommendations for Nonprofits

• Consistent Communication & Stewardship
  • Focus first on retaining current donors with outreach tailored to their preferences—calls, letters, lunch meetings.
  • “Donor retention goes down more...flipping 55% of our donor base each year.”
    — Wendy McGrady [25:42]
  • Stewardship should not fall off the priority list.
• Track & Use Your Own Data
  • Set quarterly goals for key metrics that matter most to your organization—not just total dollars raised, but also stewardship and retention.
  • “If you’re not sitting down quarterly and tracking a few metrics that are meaningful to you...you don’t know how you’re doing.”
    — Wendy McGrady [28:05]
• Keep Asking and Don’t Go Quiet
  • Even in times of upheaval, continue making asks and communicating needs. The pandemic demonstrated the pitfalls of disengagement.
• Push Foundations for Bolder Action
  • Foundations have record assets ($100B three years running) and while they alone can’t fill the government funding gap, they have a crucial leadership role to play (from funding to convening and training).
    — See [30:00 – 31:23]

6. Hope for the Sector & What Keeps Wendy Up at Night

• What Excites Wendy: The massive potential for generosity in the U.S., and the possibility of a broad push—“If a large number of us were to say, clearly it’s needed this year… it’s power in numbers.” [32:00]
• What Worries Her: The sustainability of nonprofit funding as donors consolidate and government support erodes. “No policy change is going to close this gap.” [33:04]
• The Unifying Power of Giving:
  • “Giving is a unifying act of hope.”
    — Julia Campbell [24:32], reinforcing Wendy’s earlier words

Notable Quotes & Memorable Moments

• “People give big when they’re feeling economically and financially secure.”
  — Wendy McGrady [03:15]
• “We call it dollars up, donors down.”
  — Wendy McGrady [13:37]
• “We really need to be honest with our communities and our audience and our donors, and we need to talk about what's happening.”
  — Julia Campbell [22:00]
• “Giving is a unifying act of hope, and I firmly believe that it is.”
  — Julia Campbell [24:32]
• “If you’re not sitting down quarterly and tracking a few metrics that are meaningful...you don’t know how you’re doing.”
  — Wendy McGrady [28:05]
• "No policy change is going to close this gap."
  — Wendy McGrady [33:04]

Timestamps for Important Segments

• [01:45] – Introduction to episode and guest Wendy McGrady
• [03:07 – 04:43] – Key economic drivers of giving in 2024
• [06:12 – 09:29] – How Americans think about generosity in today’s climate; generational trends
• [13:07 – 16:26] – Decline in number of donating households; impact and risks for small nonprofits
• [17:43 – 24:39] – Messaging & storytelling in today's nonprofit landscape; importance of consistent and honest communication
• [25:11 – 29:01] – Making giving data actionable; donor retention & stewardship
• [30:00 – 31:23] – The role and responsibility of foundations during the current crisis
• [31:32 – 34:05] – Hopes and challenges for the future of giving
• [34:15] – Where to find more on Giving USA and Wendy’s consulting work

Resources & Further Information

• Giving USA Reports & Special Publications: givingusa.org
• The Curtis Group: Capacity-building, major campaign planning, and consulting for nonprofits—[learn more from Wendy McGrady]
• Reference: Generosity Commission’s report and recommendations (mentioned as a resource for a broader view on giving)

Closing Thoughts

This episode offers an in-depth look at the complex reality behind headline giving numbers for 2024 and provides concrete, actionable advice for nonprofit leaders. The importance of communication, storytelling, donor retention, and data-driven action shines through, set against the backdrop of record giving—and rising challenges for broad participation in philanthropy.