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| Sunday, March 29, 2009 |
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The Quiet Crisis: The Impact of the Economic Downturn on the Nonprofit Sector
By tutormentor2 @ 10:57 AM :: 890 Views :: Advocacy, Funding and Philanthropy, Volunteering
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This report was written to shine a spotlight on the under-reported plight of
America's nonprofit organizations and to make recommendations for how the
nation can respond. In the wake of the economic downturn, hospitals, nursing
homes, nursery schools, senior centers, soup kitchens, and other nonprofit
organizations have been hit by a triple whammy. The evaporation of wealth has
decimated charitable donations; the state and local budget crunch is costing
nonprofits their foremost paying clients; and the human need for nonprofit help is
skyrocketing as nonprofit resources shrink.
Among the recommendations is this:
Adopt targeted incentives to expand private giving and volunteering.
A handful of modest changes in the tax code would help keep nonprofit
contributions by individuals and foundations from plunging: extending
the IRA rollover so Americans over 70 can make charitable contributions
through tax-free withdrawals from their retirement accounts; making
the mileage deduction for volunteer travel, currently at only 14 cents per
mile, the same 58.5 cents per mile as for business travel; creating a broad-based
nonprofit investment tax credit to help charities hold their own
in a brutal credit environment; suspending the 2 percent excise tax on
foundation earnings for grant makers that give more than the 5 percent
of assets required by federal law; and allowing the 65 percent of all
taxpayers who do not itemize their tax deductions to claim a deduction
for charitable contributions.
Such as strategy, combined with maps that point resources to the places where they are most needed, would be a tremendous support for the strategies of the Tutor/Mentor Connection.
Read the report and its recommendations and share this with others. |
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