The Chronicle of Philanthropy outlines the unique tax benefits available to donors if they give to any nonprofit before the end of the year. Says the article:
President Bush last month signed into law a measure that allows donors to write off up to 100 percent of their income for cash donations they made from August 28 until the end of the year. Members of Congress passed the measure to encourage people to give generously to hurricane-relief groups as well as to other organizations that might otherwise suffer a loss in donations because so many people want to help hurricane victims.
The standard ceiling on writing off such gifts is 50 percent.
While the specifics of the temporary benefits are complex (some states won’t allow the write-off, even though the federal government will), those organizations with donors mulling over a major gift might bring the temporary opportunity to their attention. It just might nudge them along.
