There's No Generosity Crisis. The Money's Growing, and the Biggest Wave Is Just Arriving.

Americans donated a record $617 billion in 2025, with giving up 3% after inflation, and the $124 trillion intergenerational wealth transfer is beginning to arrive through legacy gifts. The article argues nonprofits should focus on retaining new donors rather than bracing for decline, since four out of five first-time donors never give again.