Tax Reform, Fundraising and Your Nonprofit
Giveffect serves the needs of nonprofit organizations. Which means that we stay abreast of the news that impacts nonprofits. Recent tax reform changes have been reported on at length. Some news outlets are reporting that nonprofit organizations have little to worry about, while still others say that the sky is falling. With several issues around individual contributions, nonprofits are finding the environment in which they fundraise to potentially be threatened. Even with the full impact of the tax reform bill on charities yet to be determined, there is still more than enough concern to go around.
Information from the Council of Foundations says that the change in tax laws could bring about a drop in charitable giving nearly $4 billion in 2018 and beyond, which would “limit the philanthropic community’s ability to provide resources and services to people across the United States and abroad.” Additionally, the National Council on Nonprofits reported in January that tax reform could result in increased taxes on nonprofits, taking revenue away from mission-related programs and services.
The work that nonprofit organizations do is critical to our society. Nonprofits operate to serve a specific purpose, meet a specified set of goals, and create a better world. If the mode from which nonprofit organizations raise money is hampered, the impact could be truly serious.
Thankfully, even with tax reform beginning to take affect and the environment around charitable giving growing more uncertain, there are several resources that nonprofit organizations can take advantage of.
-The National Council of Nonprofits has been adamant about standing up for nonprofits who may be directly impacted by creating a guide to exactly how the new tax reform laws will impact them.
-The Council of Foundations’ Resources page is filled with guidance in a myriad of areas that nonprofits can use, from advocacy and lobbying, to marketing and communications, to partnerships and collaborations.
– The Association of Fundraising Professionals has a guide on how to approach fundraising in 2018, which gives guidance on how to focus on major donors, planned giving, and how corporations can be of greater assistance.
It is important for nonprofits to evaluate their fundraising activities and make adjustments accordingly. As the fundraising environment continues to change, nonprofit organizations of all types and sizes will have to move, change and adapt along with it. Just know that Giveffect is here with the tools to help your nonprofit adapt to this new environment.
Want to learn more about how the Giveffect all-in-one software system can help your nonprofit in its fundraising efforts? Visit us online at www.giveffect.com.