Category: Charitable Giving

jar with coins and chart trending downward

Nationwide Giving is Down: How Nonprofits Can Respond

Adapting to Shifting Giving Trends The recently released Giving USA report paints a concerning picture for the nonprofit sector, with total charitable giving in the U.S. declining by 3.4% in 2022. This drop comes on the heels of record-breaking pandemic-era generosity, leaving many nonprofits struggling to maintain critical services. However, this shift also presents an

Read More »
Top view of sand dunes

Accounting for Forgivable Loans and Other Revenue

With the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, 501(c)3 non-profit organizations and 501(c)19 veterans’ organizations with 500 or fewer employees (or that meet SBA size industry standards) were able to apply for emergency relief. Part of that relief came in the form of potentially forgivable loans through the U.S. Small

Read More »

Important Tax Figures for 2022

The Internal Revenue Service announced the tax year 2022 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2021-45 provides details about these annual adjustments. The following table provides some important federal tax information for 2022, as compared with 2021. Some of the dollar amounts

Read More »

Charitable Giving Planning Through Automated Giving Programs

Automated giving programs are on the rise as a convenient way to boost monthly charitable nonprofit revenues. Sometimes called recurring givers, donors who choose this method can give the same amount at regular intervals, usually through credit card transfers or automated account deductions. Here are some strategies to create or increase monthly automated giving programs. 

Read More »

Tax Planning: Are Bundled Gifts One Answer for Donors?

According to a recent article in Forbes by sponsored content provider, Forbes Nonprofit Council, financial advisors are having their clients consider bundled gifts to their favorite charities or donor-advised funds every few years rather than annually. The idea is that a more substantial amount given every three to five years will cause their itemized deduction

Read More »

Fewer Charitable Giving Deductions, or More, in 2018?

By doubling the standard deduction for the 2018 tax year and going forward, the law known as the Tax Cuts and Jobs Act of 2017 may potentially reduce the number of U.S. taxpayers itemizing deductions by 25%. That means no specific deduction for charitable giving except among about 5% of the U.S. population. Nonprofits worry

Read More »

Subscribe to Our Newsletter

Talk to a CPA, Today