Schumer Adds Charity Provisions to Extenders Bill

Senator Charles Schumer (D-NY) intends to add another provision to the tax extenders legislation that could further impact charities. The American Jobs, Closing Tax Loopholes, and Preventing Outsourcing Act of 2010 (H.R.4213) already includes an extension of the IRA Charitable Rollover provision until December 31, 2010.  The provision allows individuals over 70 to contribute up… Read more »

Charitable Donations See Slight Drop in 2009

Despite more downcast estimates, the Giving USA Foundation and its research partner, the Center on Philanthropy at Indiana University, released a report showing American charitable contributions have declined only about 4% in 2009. The total contributions, given by U.S. individuals, corporations and foundations, slid from $315.08 billion in 2008 to $303.75 billion in 2009. Individual… Read more »