6 in 10 donors may contribute more despite economic worries.

By The Exchange Team

Some Americans may reduce charity giving due to rising inflation, stock market volatility, and recession fears.

As per a research by Fidelity Charitable, some contributors may be anticipating higher amounts for 2022.

Nearly 75% of respondents worry about community members, and 64% worry about NGOs.

As a Result, 59% of donors may contribute more this year, according to a July-August survey of 969 nonprofit donors.

According to Giving USA, individual Americans will donate an estimated $326.87 billion to charity in 2021, a 4.9% increase from the previous year.

The organization forecast "a solid year" for donating in 2022 and linked philanthropy to stock market success.

The revelation came as the stock market hit record highs in December, although the S&P 500 has plummeted 20% year-to-date.