Charities and Donations

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A recent CBS News posts discusses about the charitable giving and donations during the holiday season.

According to Forbes reporting Minnesota is the second most charitable state in the Us after neighboring Iowa.

  • Iowa is the most charitable state, and Iowans hold the sixth-highest charitable giving rate, with 58% donating $25 or more to charity in 2021.
  • The West and Midwest dominate the top of the list, with five Midwestern states and two Western states ranking among the 10 most charitable states.
  • Florida ranks as the least charitable state. Residents of the Sunshine State have the lowest charitable giving rate (37%) and lowest formal volunteer rate (16%) of all 50 states and Washington, D.C.
  • The South commands the bottom of our list, accounting for five of the 10 least charitable states.
Forbes Advisor

According to the Forbes Advisor, “Minnesota ranks second for most charitable giving by state, at 62%. It also has the third-highest formal volunteer rate, at 36%. The Gopher State is also very neighborly. Residents of Minnesota have the sixth-highest informal helping rate (62%). Informal acts of generosity may be more convenient than formal service because the state ranked lower (No. 17) for charities per capita.”

The Advisor encourages everyone to participate in charitable donations and points out the following financial benefits:

  • “There are plenty of good reasons to give money to charity, but if you’re looking for a financial incentive, the IRS provides one: Taxpayers who itemize their deductions may be able to deduct charitable contributions of money and property. You can generally deduct up to 60% of your adjusted gross income (AGI) for charitable contributions.
  • “Your charitable donation may also make you eligible for a tax credit or deduction on your state taxes.