Some organizations see drop in charitable donations from recent tax reform
But some areas have not
PARSONS, Ks. — Last year, Americans gave an estimated $427 billion dollars to charity, but when adjusted for inflation there was a 1.7% reported decline in charitable donations.
“Last year when they had the tax reform, they doubled the standard deduction for a single person to 12,000, for a married couple to 24,000, which made it harder to get enough volume in a dollar amount to be able to itemize. Which basically is what caused that issue that people couldn’t use their charitable donations as an itemization anymore” said Liberty Income Tax professional, David Cheek.
The tax reform has impacted nonprofits.
“The way it has hurt people as far as the nonprofits and things like that receive the money I guess is because people were doing that to get the benefit on their taxes and I guess some people chose not to do that” added Cheek.
Joplin’s Salvation Army has seen a decline in their donations because of it and it is hurting them.
Though this decline is Nationwide, not all organizations have experienced it.
“Here in rural Southeast Kansas, what we found is our donors give because they want to support our students and our students needs, and they weren’t really doing it they weren’t motivated by a tax break, they were doing it to really do good” said Labette Community College Foundation Executive Director, Lindi Forbes.
The Parsons Area Community Foundation holds an annual event on Giving Tuesday to help raise money for local organizations.
Nonprofits, like the Labette Community College Foundation say it’s the giving community around them that has stayed consistent with donations.
“They say the same things you know people who want to give to the children’s museum because they like that cause or the Labette Assistance Center because they want to help people in need, their heart is telling them to do it, not their pocketbook” added Forbes.
Events like this are just simple ways to support local nonprofits and help any who experienced a decline..
“No gift is too small, each and every dollar will truly make a difference to each one of us” said Forbes.
Last year the Parsons Giving Tuesday event raised more than $151,000 for local organizations.
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