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News & Thoughts

AFP Legislative Alert: Make Your Voice Heard on the New Tax Reform Plan

23 October 2017


The Association of Fundraising Professionals (AFP) is calling on its U.S. members to provide comments online about the new GOP Tax Reform Framework that could reduce giving by $13 billion every year.

The Yunker Group extends this request to all leaders of nonprofit boards. This is NOT a political issue, but potentially a critical charitable sector issue impacting your nonprofit.



Synopsis

Go to the GOP Tax Reform Survey website and provide your comments on how the tax reform plan will affect your organization.

 

The GOP Tax Reform Framework, developed by the White House and key Republican Members of Congress, calls for the standard charitable deduction to be doubled. That change would cut the number of

taxpayers who itemize from 33 percent to just 5 percent—a loss of 30 million itemizers! Itemizers account for 82 percent of all giving in the U.S.

 

Research by Independent Sector and the Lilly Family School of Philanthropy estimates that doubling the standard deduction would reduce giving by $13 billion annually. That figure represents a significant decrease

—more than 6 percent of all individual giving!

 

To address this issue, the Association of Fundraising Professionals (AFP) is calling for Congress to include the universal charitable deduction in the tax reform plan. A universal charitable deduction would allow

all taxpayers, regardless of whether they itemize or not, to take a charitable deduction.

 

The same research above shows that adding a universal charitable deduction to the increased standard deduction results in overall giving increasing by $5 billion! The powerful effect of the universal charitable

deduction is enough to overcome any loss in giving when the standard deduction is doubled.

 

What You Can Do: Go to the GOP Tax Reform Survey website and provide comments about (1) what a loss in charitable giving would mean for the charities you support and (2) the importance of adding the

universal charitable deduction.

 

This is not about politics…this is about helping the nonprofit organizations which mean something to your family and you. Please act today.


 

The following appeared in

Movers & Makers