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Forum Position: Incentivize Giving By All Americans

Friday, May 12, 2017

The Forum of Regional Associations of Grantmakers supports a standard charitable deduction be made available to all taxpayers to incentivize giving by every American

We are concerned about the impact recent tax reform proposals would have upon charitable giving. Although current proposals would preserve the charitable deduction in its current state, we foresee the repealing of the estate tax as negatively impacting charitable giving as would the doubling of the standard deduction.

Doubling the current standard deduction would wipe out the tax incentives for millions of people who rely upon this incentive to continue their charitable giving. Data suggests that only 5% of current itemizers would continue to do so and that charitable dollars would decrease anywhere from 10-20%.

The Forum represents more than 50 regional and national philanthropy-serving organizations that collectively comprise more than 7,000 charitable foundations and other grantmaking organizations across the country. The philanthropic capacity of our members and that of current individual charitable givers would be reduced by the proposed tax changes. We therefore urge all policymakers to support a standard charitable deduction that is available to all taxpayers.  

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