American foundations gave nearly $50 billion in 2013. That's a massive investment in our nation through American generosity and supported by sound tax policies from Washington. Utah is by far the most charitable state in the nation. Utahns give, on average, an astounding 10.6 percent of their discretionary income to charities nearly double the national average. With our congressional delegation back in Utah this month for August recess, now is the perfect time to showcase the important work of philanthropy in our community and highlight some important decisions they have to make in the future.
Foundations rooted in the communities they serve are uniquely able to combine resources across sectors to address their communities' emerging and ongoing needs. The Community Foundation of Utah is proud to contribute to our state's charitable efforts by creating events like Love UT Give UT, which in just 24 hours, raised over $1 million for hundreds of charities across our state. Hundreds of the state's brightest business leaders and entrepreneurs have used the foundation to engage their giving minds sharing their expertise and assets with nonprofits large and small. And while the foundation's charitable assets have grown at an astonishing rate to nearly $40 million in just six years; these philanthropists have made over $12 million in gifts during this time, helping our charities through a very difficult economic time.
As the public sector continues cost-cutting measures, it's important our leaders in Washington understand philanthropy's importance here in Utah and are mindful of how their decisions affect Utahns' charitable nature. House Ways and Means Committee Chairman Dave Camp's laudable effort to achieve comprehensive tax reform illustrates how the decisions taken by Congress could have immediate benefits or cascading consequences for our community.