
Nonprofits anxious over new tax law
Many who used to itemize deductions may see that its really no longer beneficial to do so.
Many who used to itemize deductions may see that its really no longer beneficial to do so.
In the state, Heinen said, nonprofits collect and spend roughly $42.5 billion a year and employ about 10 percent of the workforce. In the Triangle, they include Duke University Medical Center and WakeMed hospitals.
Tim Delaney, National Council of Nonprofits president and CEO, discusses how changes in the tax code will impact charitable giving.
The Massachusetts Nonprofit Network has estimated that donations to charities in the state could decline by hundreds of millions of dollars as fewer taxpayers itemize deductions in 2018.
“They’ve essentially eliminated for 90 percent of filers the ability to make deductions specifically for charitable contributions,” said Gian-Carl Casa, president and CEO of the Connecticut Community Nonprofit Alliance.
Estimates of the expected national decline in giving attributable to tax law changes like those just approved typically range from 2 to 5 percent, said David Heinen, vice president for public policy and advocacy at the North Carolina Center for...
Danielle Clore, executive director and CEO of the Kentucky Nonprofit Network, said nonprofits lobbied Congress to include in the law a universal deduction that would have allowed any taxpayer — whether...
Lydia McCoy, Vice President of the Colorado Nonprofit Association, says it's no coincidence that there are mailers and calls going out from nonprofits this time of year.
According to Tim Delaney, president of the National Council of Nonprofits, Congress’s message to charities is “We don’t care—you’re on your own.”
Additionally, the Nonprofit Association of Oregon fears a decline in charitable giving could negatively impact the overall economy. Nonprofits employ more than 183,000 people in the state of Oregon, according to the NAO.