Philanthropy in the United States has been expanding significantly, with a marked shift towards more liberal and progressive agendas, particularly in policy and advocacy. This trend has contributed to the rise of an elite group that is both democratically unaccountable and predominantly progressive. The influence of Big Philanthropy has also become more politicized and partisan over time.
Historically, philanthropy’s role within America’s social contract has been tenuous. U.S. taxpayers indirectly support its growth through tax incentives, yet both conservative and progressive populist reactions against it persist.
According to CauseIQ, there are approximately 150,000 private foundations employing nearly 32,000 people with annual revenues exceeding $159 billion. FoundationMark reported that by the end of 2024, total assets for all private foundations reached over $1.6 trillion—a significant increase from previous years.
Grants and expenses from these foundations have risen as well. By late 2024, FoundationMark estimated their grants and expenses at over $117 billion—an increase from past figures.
In early 2025, The Chronicle of Philanthropy used data from CauseIQ to identify 277 private foundations and 69 community foundations with assets exceeding $500 million each. Collectively holding more than $900 billion in assets, these organizations accounted for about 55 percent of all grant dollars awarded.
Among the top-ranked foundations were the Gates Foundation and Lilly Endowment. However, recent tax filings revealed that Lilly Endowment’s assets surpassed those of Gates by the end of 2024 due to increased stock value in Eli Lilly & Co., driven by successful pharmaceuticals.
The list also included two community foundations: Silicon Valley Community Foundation with $10.36 billion in assets and Chicago Community Trust with $4.53 billion.
Overall, the top 25 foundations’ combined assets amounted to $328.93 billion; among them were notable private entities like Knight Foundation ($4.23 billion) and Carnegie Corporation of New York ($4.10 billion). These top institutions represent a significant portion of total assets held across all private foundations nationwide.
As Big Philanthropy continues evolving toward liberalism and progressivism in upcoming discussions, scrutiny remains on its societal impact amid ongoing populist critiques.
