Thursday, March 12, 2009

President's Budget Could Reduce Charitable Giving

There is a proposal in President Obama's Budget that is going to impact donations to non profits in a big way. This proposal would impose new limits on charitable tax deductions. People earning more than $250,000 annually can currently calim up to a 35 percent deduction. Under the new budget this deduction would drop to 28% . Could your budget take a 7% hit? Probably not.

According to an e-mail I received from the Association of Fundraising Professionals (and I quote) "Indiana University's Center on Philanthropy recently noted that the budget proposal to limit deductions and raise rates, if applied in 2006, would have reduced giving by nearly $4 billion. "

That's alot of lost funding - funding that could teach an adult to read, funding that could feed a hungry child, funding that could improve the lives of Americans.

What can you do? Simple - write your Congressman or Congresswoman. Let them know what kind of an impact a cut like this can have. That's what is great about America - we have the opportunity to make our voices heard, so let's make them heard!

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