A robust stock market and a healthy economy has allowed Americans to donate more generously than ever before.
The Giving USA report, released Tuesday, said donations from individuals, estates, foundations and corporations topped the $400 billion mark for the first time in 2017, up 5.2 percent from the estimate of $389.64 billion for 2016.
Gifts to foundations saw the biggest gain in 2017, rising 15.5 percent, driven by large gifts from philanthropists to their own foundations, like the $1 billion gift from Dell Technologies CEO Michael Dell and his wife, Susan, and $2 billion from Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan.
The second-largest increase was an 8.7 percent increase to arts, culture and humanities. The only sector that did not fare well was international affairs, which saw a decrease of 4.4 percent.
Fundraisers across the U.S. fear the possibility of looming trade wars and changes in U.S. tax laws could negatively affect future donations.