By Wendy McGrady Executive Vice President Last week’s passing of the coronavirus stimulus package or the CARES Act has an impact on all of us. With all the information included in the act, our goal is to provide you with the most up-to-date and useful information. Below are a few highlights of the bill’s… Read more »
Posts Categorized: Government
Donor-Advised Funds Webinar
What You Need to Know about Donor-Advised Funds in 2020 It’s not too late. Even if you missed the live webinar on donor-advised funds, we recorded it as well as printed the slides that accompanied the presentation. Keith Curtis and Jeff Giannotto delve into the details of donor-advised funds. You can learn about the… Read more »
Could the Tax Reform Impact Your Donors? And What Should You Do?
Under the tax reform that passed last month, some changes could impact your donors and charitable giving for your organization. Reduced number of taxpayers qualifying for charitable tax deductions With fewer Americans qualifying for tax deductions, we could see fewer dollars given to nonprofits. One study by the Indiana University Lilly Family School of Philanthropy predicts… Read more »
Treat legislators like major donors
If you don’t tell them, who will? Elected officials need to know what matters to the nonprofit sector and to your organization—this was a key message of The Giving Institute’s webinar last week, in which I participated as a GI member. Jason Lee, general counsel for the Association of Fundraising Professionals, stressed how important this year… Read more »
How does last night’s State of the Union affect charitable giving?
As president for the Hampton Roads Chapter of the Association of Fundraising Professionals, I’m fortunate to receive timely information and updates about public policy at the national level. Jason Lee, general counsel for AFP, included an analysis in an email today regarding last night’s State of the Union address. In terms of an impact on charitable… Read more »
Fiscal Cliff Legislation Provides Favorable Opportunity for Senior Donors this Month
On January 1, 2013, the House and Senate passed H.R. 8, The American Taxpayer Relief Act of 2012, a bill to avert the “Fiscal Cliff.” The president subsequently signed the bill into law. Those age 70-1/2 and older can donate up to $100,000 from Roth or traditional IRAs to certain charitable organizations without including the… Read more »
Will Donors Give Less if Taxed More?
A recent article in Philanthropy Matters examined the current Obama administration’s proposal on changes in charitable deductions for taxpayers with adjusted gross income over $250,000 for couples and $200,000 for individuals. This proposal suggests reducing the value of itemized charitable deductions from 35% to 28%, and raising the marginal income tax from 35% to 39.6%… Read more »
U.S. Economy Shows Considerable Progress in Recovering From the Great Recession
I attended a luncheon today hosted by the Economics Club of Hampton Roads and Old Dominion University, which featured an interesting presentation by Jeffrey Lacker, president of the Richmond Federal Reserve Bank and voting member of the Federal Open Market Committee. Lacker addressed the “considerable progress of the U.S. economy in recovering from the great… Read more »
Impact of Proposed Tax Changes on U.S. Giving
The Giving Institute recently hosted an informative webinar on the proposed changes to the U.S. tax code and what it means for giving in our country. We wanted to share some of the valuable information presented in the webinar, led by Patrick Rooney, PhD, Executive Director of the Center on Philanthropy at Indiana University. The webinar… Read more »
Charitable Giving Forecast: How Potential Changes in the U.S. Tax Code Could Encourage an Increase
The nonprofit industry is keeping a close watch on Washington in 2012 as this year could bring about some significant changes in tax legislation that will affect American’s charitable giving. While most of the proposed policies are not favorable to organizations filing as 501(3)c, fundraisers could see an increase in donations this year as people… Read more »