Why The Charitable Act Is Essential For New York’s Non-Profits
By Nicole L. Weingartner, Director of State Government Affairs |
New Yorker’s are known for giving back. There’s a bill in Washington that – if passed – will help us help others like never before.
“The Charitable Act” (S566/HR3435) gives taxpayers an incentive to donate to non-profits of their choice, reviving a universal tax deduction for gifts to charity.
This bill is more than just mere generosity; it takes its inspiration from data that proves it will work.
The Fundraising Effectiveness Project of the Association of Fundraising Professionals found that during the last deduction period of this kind (in 2020 and 2021), the number of donations in the $300-$600 range increased by nearly 11%. Since the deduction was allowed to expire, they have charted a 5% decline.
The takeaway: when it comes to giving, incentives for donors have huge impact.
The Charitable Act is incentives on steroids. All taxpayers (even non-itemizers) can deduct donations up to $4,600 for individuals and $9,200 for joint filers. The math goes vertical fast, and so it’s no wonder that this bipartisan bill has been supported by both sides of the aisle in Congress and the U.S. Senate and has the backing of more than 500 non-profit organizations from all 50 states.
According to polling, 87% of voters say that they would like to see a permanent restoration of a universal charitable deduction and over half of the surveyed voters said they would give to more charities if they could get deductions for their donations.
Non-profits provide essential services to our communities and the people who need them most. There are plenty of local charities that need our help right here in Garden City including SCO Family of Services, which delivers services to children, families, adults, and the community to provide them with the necessary tools to achieve success; and the EAC Network, which responds to human needs with programs and services that protect children, promote healthy families and communities, help seniors, and empower individuals to take control of their lives. These are but a few; there are so many others. Perhaps you have a favorite that you already support.
In a time where Washington D.C. is unpredictable, and as government cutbacks continue to loom, The Charitable Act would help non-profits to rely on funding from you and me, the people who have the most to gain by the strong communities these organizations create.
This article was originally published in Garden City Life Magazine.
Meet the Author
Nicole L. Weingartner is the Director of State Government Affairs at Davidoff Hutcher & Citron LLP.
Known as “The Long Island Lobbyist”, Nicole is particularly skilled in assisting clients who are located and/or do business on Long Island.
Her decade plus long relationships on the municipal, county, state and federal levels allow her clients to navigate complex issues such as funding, relationship building, contracting and crisis management.
