Nonprofits Hold Out Hope for Tax Bill Despite Setbacks

Nonprofits Hold Out Hope for Tax Bill Despite Setbacks

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Tim Delaney, president of the National Council of Nonprofits, said a deal that extends the benefits for the current tax year on the full slate of extenders is "useless" to his organization’s members. This late in the year, he said, people of age 70&frac; or older aren’t likely to be able to take advantage of the IRA "rollover" provisions that allow them to deduct from their income gifts to charity made from their retirement accounts. Similarly, the tax incentive for donations to food banks is also useless this late in the year, he said.

Mr. Delaney said he was frustrated by Democratic lawmaker’s preference for a one-year extension of the broader extender package. "It’s either ignorance or an insult," he said.

On Wednesday afternoon, a coalition of nonprofit organizations — including Delaney’s group, the Council on Foundations, Feeding America, Independent Sector, and the Land Trust Alliance — called on rank-and-file Democratic members to buck their leadership and vote for the bill. "The legislation’s impact on low-income Americans, underserved populations, communities of color, and the nation’s community food banks cannot be overstated," they wrote in a statement.

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The Chronicle of Philanthropy
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