Tax-change plans seen reducing giving by up to $13.1 billion
Proposals in Congress and from the Trump administration to lower the top marginal tax rate and raise the standard deduction could result in up to $13.1 billion less in charitable giving, a new report says.
That drop in giving — equal to 3.5 percent of total donations in 2015 — would be the combined impact of lowering the top tax rate to 35 percent from 39.6 percent, and roughly doubling the standard deduction — currently $6,300 for individuals and $12,600 for joint filers — according to the report, from the Lilly Family School of Philanthropy at Indiana University, and commissioned by Independent Sector.
The report, Tax Policy and Charitable Giving Results, also projects that extending the charitable deduction to non-itemizing taxpayers — by itself and without other changes — could generate up to $12.2 billion in additional giving.
The proposals in Congress and from the Trump administration would reduce giving to religious congregations by up to 4.7 percent, and to other charities by up to 4.4 percent, the report says.
Each of those proposals on its own — to lower the top tax rate, and to raise the standard deduction — also would reduce charitable giving, the report says.
It says that adding a deduction for non-itemizers, while lowering the top tax rate to 35 percent and raising the standard deduction, likely would more than offset the amount of charitable giving that otherwise would be lost under those two proposed changes.
As a result, the report says, giving overall would grow $4.8 billion — beyond the revenue a non-itemizer deduction would generate to offset the projected decline in giving from the two tax-change proposals.
Davidson Hospice launches $2.3 million campaign
Hospice of Davidson County has launched the public phase of a campaign to raise $2.3 million.
The campaign already has raised $1.2 million, including a lead gift of $750,000 from Ian and Talmadge Silversides of Lexington.
Hospice will use funds from the campaign to improve patient care through changes to its Hinkle Hospice House and through technology upgrades; by expanding services to provide pediatric hospice care and adding a “serenity” garden for reflection; and by adding $1 million to its $1.25 million reserve fund while beginning to build its endowment through planned gifts.
Gifts to the campaign include a total of $40,000 from The Brown F. Finch Foundation, Doak Finch Foundation and Thomas Austin Finch Foundation; a total of $87,000 from Lauren’s Ladder, Tom and Sandra Smith, Larry Swing, Witherspooon Rose Culture, and Gordon and Nancy Wright; and a total of $354,000 from anonymous donors.
Hospice also presented its Founders Award to Bill and Sara DeLapp for over 20 years of support, and its Community Partner Award to Parrott Insurance and Benefits for making significant contributions.
In 2016, Hospice served over 4,700 individuals in the Triad. Those services included $246,000 in charity care for patients needing end-of-life care.
Hospice also completed retirement of a $2.1 million commercial mortgage for new facilities for its administrative and home-care staff on its new campus, which opened in 2009 with funding from a capital campaign that raised $3.2 million.
Komen gives $350,000 for breast health
Susan G. Komen North Carolina Triangle to the Coast awarded nine grants totaling $350,000 to local nonprofits to support breast health services and education projects for underserved, underinsured and uninsured populations in 29 counties.
CASA raises $93,000 at luncheon
CASA in Raleigh raised over $93,000 at its 25th anniversary luncheon on May 4 at the Sheraton Raleigh.
CASA, which develops and manages affordable rental housing, has expanded to include workforce and veterans housing and now serves Wake, Durham and Orange counties.
Barnabas Network gets $14,000
The Barnabas Network in Greensboro has received a $14,000 grant from the Lincoln Financial Foundation, the philanthropic arm of Lincoln Financial Group, to support a program that focuses on providing beds, mattresses, dressers and other furniture for individuals, families and children who are working toward self-sufficiency after experiencing a crisis such as homelessness, job loss, substance abuse, domestic violence, divorce, natural disaster or refugee resettlement.
Cricket event raises $8,000
The Capital Cricket Classic on May 6 raised over $8,000 and gave $4,000 each to SAFEChild and Inter-Faith Food Shuttle, both in Raleigh.
Co-sponsored by Morrisville Mayor Mark Stohlman and the Triangle Cricket League, and held at Halifax Mall behind the Legislative Building, the event featuring eight local cricket teams consisting of youth and adult players, as well as elected officials from Wake County and the state legislature.
Dining event benefits Crisis Control Ministry
The 27th annual “Hope du Jour” that Crisis Control Ministry in Winston-Salem hosted on May 2 attracted a record-high 140 restaurants, bakeries, coffee shops and other establishments in Winston-Salem, Kernersville, Lewisville and Clemmons that will donate 10 percent of their proceeds for entire day to the agency.
Crisis Control Ministry does not yet have tallies from the participating businesses of how much they will donate from the event, which in past years netted $50,000 to $60,000 for the nonprofit.
Rescue Ranch names new executive director
Rick Collord, former executive director at Cheyenne Animal Shelter in Wyoming, has been named executive director of Rescue Ranch in Statesville.
Hospital employees assemble first-aid kits
To mark the 100 anniversary of Wesley Long Hospital in Greensboro, hospital employees assembled 200 first-aid kits for United Way of Greater Greensboro.
Concord Hospitality staff assemble hygiene kits
Over 300 associates of Raleigh-based Concord Hospitality assembled 8,000 hygiene kits valued at a total of $40,000 that will be distributed throughout North America in June.
Health Underwriters Association honored
The North Carolina Association of Health Underwriters is getting a Silver Certification recognizing excellence in chapter development from the National Association of Health Underwriters.
The North Carolina Association has six local chapters — Charlotte, Coastal, Triad, Triangle, Western North Carolina, and Western Piedmont — serving health insurance professionals throughout the state.
The state association and its chapters are members of the National Association, which represents over 100,000 licensed health insurance agents, brokers, consultants, and benefit professionals who provide insurance for millions of Americans.
Drug affordability focus of JDRF talk
Efforts to to make Type 1 Diabetes drugs and treatments more affordable for families and individuals will be the focus of a talk on May 25 at the annual meeting of the Piedmont Triad Chapter of JDRF.
Keynote speaker at the meeting, to be held at 7 p.m at Proximity Hotel at 704 Green Valley Road in Greensboro, will be Jesse Bushman, senior director of health policy for JDRF in Washington, D.C.