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Local Nonprofit Worries About Tax Bill Impacts

President Donald Trump is praising passage of the Republican tax reform bill, while charities worry how it will impact their bottom lines.

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Nonprofits fear new tax code will slash donations and donor base

But because it will double the standard deduction to $12,000 for individuals and $24,000 for couples, charities fear taxpayers won't have the incentive to make donations to lower their tax bill.

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Connecticut Nonprofit CEO: Republican Tax Bill Is "Perfect Storm" For Nonprofits

With taxpayers being able to jump on a higher standard deduction, they’ll have less incentive to itemize their deductions. Therefore, they’d be less likely to give to nonprofits.

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Congress’ Tax Bill Message to Charitable Nonprofits: “We Don’t Care – You’re on Your Own”

Washington, DC - Tim Delaney, President and CEO of the National Council of Nonprofits, released the following statement in response to the House and Senate passing the Tax Cuts and Jobs Act:

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Charities fear GOP tax bill will stunt charitable giving across the nation

The new GOP tax bill has many nonprofit organizations around the country on edge.

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House Passes Tax Bill Hurting Nonprofit Coffers

The impact of the tax plan extends beyond charitable and foundation giving, according to David Thompson, vice president of public policy for the National...

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GOP tax bill: Here's what people are saying

It will gut charitable giving

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GOP tax reform bill could hurt nonprofits if donations drop

Donations represent the largest funding source for nonprofits after fees charged for services and government contracts, said Heather Iliff, president and CEO of Maryland Nonprofits, the sector's statewide trade organization.

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Tax Bill Would Indirectly Reduce Nonprofit Support, Slash Spending for Youth, Some Fear

Nonprofits of all kinds, including youth-serving ones, are feeling “great apprehension,” said Cohen of the National Council of Nonprofits.

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Bad news for nonprofits: Will people still give or as much if they can’t get a tax deduction for their charitable giving?

Tim Delaney, president and CEO of the National Council of Nonprofits, told NPR’s Pam Fessler that a decline in donations “is worrisome at a time when Congress is also trying to cut spending on domestic programs.