Part II of my three part series discussing the shift in charitable giving, the policies which affect it, and the organizations it impacts.
Consider this: according to the Internal Revenue Service, 152 million individual tax returns were filed in 2016. Of those filed, 40 million of them accounted for 80% of the dollars given to charitable organizations. Based on the way those tax returns were itemized, and with the implementation of the increased standard deduction, the Tax Policy Center estimates a 62% drop in individuals taking a deduction for charitable donations. The Joint Committee on Taxation estimates this will reduce giving to NFPs by $13 billion next year.
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