Federal tax reform proposals could further pinch budgets of Delaware nonprofits

Federal tax reform proposals could further pinch budgets of Delaware nonprofits

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Just a few months after state budget cuts led to cutbacks at Delaware nonprofit agencies, more concerns are brewing as details of federal tax reform initiatives come to light.

A parent organization of the Delaware Alliance for Nonprofit Advancement, the National Council of Nonprofits, reviewed the reform bills that were introduced in the House and Senate.  DANA President and CEO Sheila Bravo said HR 1 as currently written in the House and Senate "would be devastating for Delaware's communities."

DANA is concerned that individuals would be discouraged from giving if a 100-year-old charitable gift tax incentive is repealed. Organizations  that are currently tax-exempt may also lose that exemption to fund tax cuts. Some of these agencies feed the hungry. Others help shelter the homeless. Still others perform a variety of functions that serve the community.

"They do rely on the generosity of the community to support them, because they were created by the community," Bravo said. 

Source Name: 
WDEL
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