We hope you had a holiday season full of family and friends!
It’s too early to get statistics on total charitable giving in 2018, however, I still stand by my prediction from last January. Contrary to the predictions of others in the philanthropy world, I anticipate that compared to 2017, charitable giving was up in 2018. Although giving was down slightly in the first two quarters of 2018, strong contributions in the third quarter now have charitable giving up compared to the first three quarters of 2017. Here at your Community Foundation, we saw very strong contributions and had a record year with total contributions exceeding $7 million. There was a great deal of interest in the “charitable bunching” concept that I mentioned in earlier posts. Under the new tax laws with the higher standard deduction, more donors used a Donor Advised Fund and bunching as a tax wise charitable giving tool at year-end.
In July, Giving USA will report on total charitable giving and I will report back with the official results on 2018. However, I think my faith in people and their motivations for giving will be proven correct and giving will be up despite the standard deduction doubling and many fewer people able to itemize their deductions. Stay tuned.
Your generosity is a crucial force in our community and working together, we are making a huge impact. Here is what your support amounted to in 2018…
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