Around one in four U.S. adults plan to scale back their philanthropic contributions in 2023, according to a report published March 30 by Dunham and Company, a faith-based non-profit fundraising, marketing and consulting agency based in Plano, Texas.

While most 2022 donors (96%) will continue to give this year, this total is a slight decrease from the 98% of 2021 donors who planned to give in 2022. In addition, 24% of donors plan to give less in 2023 than in 2022 (a six-point increase from the 2021-2022 figure), and 70% plan to give the same or more (a six-point decline).

Reasons for this shift include inflation, stock market volatility, the expectation of an economic downturn, and their personal financial situation. Nearly one in five (16%) of adults have put their 2023 giving on hold until they feel the economy is more stable – up from 9% in 2022.

The report breaks down responses based on age and household income, while providing data on whether donors anticipate their giving to return to prior levels, on the specific reasons for giving declines, and on when donors believe economic conditions will improve.

The full report is available here. The margin of error for the report is plus or minus 3.9 percentage points.