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FirstGiving, Online fundraising, fundraising websites, peer-to-peer fundraising

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Fears over the election and charitable deductions continue

  
  
  


As the 2012 presidential election looms closer the candidates’ statements on charitable deductions signal harder times for nonprofits.



Deduction vs. Incentive



Charitable deductions are traditionally seen as incentives for donors to give generously as their involvement is recognized by the federal government. Both candidates however, after fierce debates over income tax and the disproportion that lies between the wealthiest and poorest Americans, have come out with official statements on the issue. According to the Chronicle of Philanthropy Obama believes that deductions should be capped at 28% for the wealthiest Americans, while Romney would limit deductions above $17,000 for the mid to less wealthy Americans.



Charitable Reform



Sandra Swirski head of the Alliance for Charitable Reform believes that a constitutional amendment is necessary to protect the rights of donors and nonprofits. Swirski along with other leaders in the nonprofit realm fear the limits placed on charitable deductions will greatly hurt nonprofits and that donations will decrease significantly if so. How do you view the charitable debate?



Weigh in with your thoughts below or on our Facebook or Twitter.



Photo Courtesy of lincolnblues

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