We reported how there’s been a 1.7% decrease in charitable giving since the institution of the Tax Cuts and Jobs Act of 2017—even with 64% of households paying less in income taxes over that period than period than they would have under the old laws. That decline potentially amounts to billions less year over year. Yet this year’s presidential candidates have been largely silent on ways to increase tax incentives for charitable giving, perhaps missing a prime opportunity to substantially … [Read more...] about How Can Changes to the Tax Code Improve Charitable Giving?
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It’s Time to Reshape Our Thinking on Giving
We tend to associate financial donations with the end of the year—about a third of all charitable giving is done between Thanksgiving and New Year’s Eve. But just because it’s become the norm doesn’t mean it’s necessarily the most useful way of doing it. That year-end surge forces most nonprofits into a rather precarious position for much of the remaining 46 weeks of the year. Their smaller, seasonal fundraising campaigns aside, those organizations rely largely on their holiday-season … [Read more...] about It’s Time to Reshape Our Thinking on Giving
Continue ReadingHow Much Are We Giving to Charities?
We’re donating more to charities than we ever have before. That may strike you as a bit of a surprise in light of the relentless stream of polarizing political news these days, which can make it seem like the United States is devolving into a Mad Max-type realm. But the actual story, buried beneath all the sensational headlines, is that there’s compassion flowing from every corner of our country. And it’s been growing for a while. Check this out: Total giving to charitable … [Read more...] about How Much Are We Giving to Charities?
Continue ReadingIf We’re Paying Less Taxes, Why is Charitable Giving Down?
Don’t look now, but tax season is upon us. Which makes this the perfect time to take a closer look at how our charitable giving has been impacted by the latest reforms to the tax law. The Tax Cuts and Jobs Act of 2017 aimed to simplify the filing process by increasing the standard deduction. But the change has had the opposite of the desired effect in many ways. Specifically, the standard deduction was doubled for individuals from approximately $6,000 to $12,00 and for married couples … [Read more...] about If We’re Paying Less Taxes, Why is Charitable Giving Down?
Continue ReadingExperts Anticipate the Changing Face of Giving
This isn’t just any January. It’s also the start of a new decade, which is why it may feel like you’ve been encountering an awful lot of trend forecasts. Industry insiders and editors are seizing the opportunity to look ahead to not just the next 12 months but the next 10 years. Nonprofits are subject to trends just like the private sector. To get a feel for how different things could look in the very near future, Forbes surveyed its Nonprofit Council. Here are the highlights of what the … [Read more...] about Experts Anticipate the Changing Face of Giving
Continue ReadingHow to Resolve to Give More Generously
Researchers estimate that 60 percent of us make New Year’s resolutions, yet only about 8 percent of us are successful in achieving them. This year, why not resolve to give more generously, whether financially or with your time, to the causes you’re most passionate about? You’re still working toward a meaningful and productive goal, but by involving other parties, you’re now also increasing your accountability—and, in turn, your chances for succeeding. Here’s a simple plan to get you … [Read more...] about How to Resolve to Give More Generously
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