“Republicans’ tax overhaul could have long-lasting effects on how charities will raise money,” writes Timothy Sandoval in Wednesday’s (12/20) Chronicle of Philanthropy (subscription required). “Congress increased the standard deduction—the amount every American can claim without itemizing—and experts estimate that millions of Americans will therefore no longer have reason to itemize and get a break for charitable gifts…. Now … many fundraisers are wondering what steps to take next in reaching out to donors. Here’s what the experts suggest. Gregory Sharkey, senior philanthropy adviser at the Nature Conservancy, says … the biggest effects … will be for donors who give about $1,000 to $10,000 a year.… Many donors are probably still likely to reap substantial tax benefits from donating stock and other assets…. Gifts made directly from rollovers from their individual retirement accounts … didn’t change…. Most of all, fundraisers should … remind donors of the value of the organization’s mission…. Says Kathryn Miree, a lawyer who helps charities with planned gifts and other complex transactions, ‘I spend most of my time with donors talking about the gift, their motivation for the gift, and what they hope to achieve with the gift.’ ”
Posted December 22, 2017
