As disruptive as the year has been for not-for-profit organizations, 2020 might end up being a better year for charitable giving. The potential for higher tax rates and decreased exemptions from estate and gift taxes under a new presidential administration may lead many high-net-worth individuals to increase charitable giving during 2020. At the same time, individual and corporate donors can benefit from temporary charitable giving incentives in 2020 that are available under recent tax law changes.
Charitable Contribution Deductions,
Competition for funding is almost always fierce, and at the end of the day, it can be difficult to know why one not-for-profit’s grant application is selected over another’s. We recently received an inside look at the grant-making process, and the experience provided some additional insights into the type of information and requests that make a grant application appealing to grant-makers.
Not all donations come in the form of cash. Donors may want to contribute financial assets, real estate, clothing and artwork to help your not-for-profit organization further its mission. If your organization accepts these in-kind donations, it should have clear policies and reporting measures in place.