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‘Fiscal cliff’ threatens nonprofit donations

Posted: 
December 13, 2012

North Carolina Center for NonprofitsCapping the amount of itemized deductions individuals can claim at around $17,000 is one solution being tossed around in Washington to help solve the budget shortfall. In North Carolina, that amount would just cover the average fixed-cost deductions, including mortgage interest and state taxes paid, and would leave little room for nonprofit contributions.

David Heinen, director for policy and advocacy for with the North Carolina Center for Nonprofits, says that will have a big impact on organizations and consumers.

“It is very clear that if the tax incentives go away, it's going to significantly reduce contributions to nonprofits from individuals,” he said.