"Demand for nonprofit services has been skyrocketing for the last four years," says Tim Delaney, president and CEO of the National Council of Nonprofits in Washington, D.C. "Demand for services is going up, but the resources available have been going down. We are struggling to meet the demand, but we cannot continue to do so much more for so much less."
The 4th quarter of 2012 is well on its way, and typically this is a time when non-profits bring in the most donations. Charities are feeling the full effect of the economic struggles we’ve been hit with in recent years, making this time a make-or-break giving season.
Why would this December be an especially trying time for charities? US News and World Report offered their own pithy list not too long ago and it’s worth a pause: “Nonprofits Face Challenging End-of-Year Giving Season.” Simply put, at a time when the services of charities have been needed more than ever (with hurricanes, droughts, and winter storms all taking their tolls during a sluggish economy) charitable giving has, understandably, been less than “generous.” That said, as a recent article published by the Chronicle of Philanthropy indicates, the “Average Gift by the Wealthy Has Declined Since 2009.”
If you’re inclined to contribute to a worthy cause before year’s end, you are well-advised to visit with your estate attorney or financial advisor about ways to best leverage your gift both for charitable and tax purposes. There are many strategies available that may make a larger gift more affordable than you think.
As we near the end of the 2012, lend your attention to your giving plans and make steps to get the ball rolling …before it drops in Times Square.
You can learn more about this topic as well as other strategies on our website under the tab entitled: charitable planning in Williamsburg, Virginia . Be sure you also sign up for our complimentary e-newsletter so that you may be informed of all the latest issues that could affect you, your loved ones and your estate planning
References: US News and World Report (November 12, 2012) “Nonprofits Face Challenging End-of-Year Giving Season”
The Chronicle of Philanthropy (October 29, 2012) “Average Gift by the Wealthy Has Declined Since 2009”