I am tasked with creating a report on households and the respective members of the households and their contributions.
Can anyone please direct me to any reports that are already available in CiviCRM or an SQL statement that does this?
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There is a Contributions by Household report available under Reports > Contribution Reports by default in CiviCRM. This should provide at least the basics of what you need. You may need to edit the filter criteria to set "Household Member is" as the Relationship Type rather than "Head of Household is".