There is still time to give to charity and claim a deduction on your taxes, whether you itemize or not, but the temporary pandemic-era deduction expires Friday, the last day of 2021.
The charitable deduction allows a single person to claim a $300 donation, $600 per couple, without the hassle of itemizing.
Liz Moore, executive director of the Montana Nonprofit Association, said now is the time to give.
"$300 goes a long way for little community nonprofits in allowing them to serve and have less reliance on government," Moore pointed out.
Montana is home to about 7,200 charitable nonprofits helping the community in a multitude of ways: addressing issues such as homelessness or hunger, by supporting things like after-school programs, affordable health care, the environment, the arts and more.
Overall, charitable giving is up over the past few years, mainly due to the generosity of mega-donors, but small donations are down.
A study from Indiana University released in July found fewer than half of Americans donated to charity in 2018, down from two-thirds in 2000.
Moore noted it fell after tax reform in 2017 doubled the standard deduction, which may have helped consumers but hurt nonprofits relying on small donations.
"So 90% of all filers can use the standard deduction," Moore stated. "That means they're going to give less, because they don't need it to get that deduction."
Donors are advised to make sure you keep the receipt, so you have proof of the gift when you file taxes this spring.
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On Giving Tuesday tomorrow, donating money isn't the only way to support the groups and causes you care about.
The global Giving Tuesday movement promotes "radical generosity," defined as "the concept that the suffering of others should be as intolerable to us as our own suffering."
Millions of people in the U.S. pledged a total of over $3 billion on Giving Tuesday last year - a 15% increase over 2021.
Philanthropy Ohio President and CEO Deborah Aubert Thomas said by occurring during the holiday season, Giving Tuesday lends itself to a particular type of giving.
"I think the timing of Giving Tuesday really gives the opportunity to focus on the things that we are all giving thanks for on Thanksgiving," said Thomas, "things that we know not everyone in our communities have access to - food and housing and just basic human securities."
Thomas said in 2020 - the most recent year for which IRS data is available - nearly 4,000 Ohio foundations donated $1.94 billion.
She explained that because fewer people itemize on their tax returns since the 2017 tax changes, it's hard to assess individual giving.
But prior to tax law changes, total giving by individual Ohioans was triple that of foundation giving. And the majority was by households with annual incomes of between $50,000 and $200,000.
She said children can learn about philanthrophy by sharing their "time, talent and treasures" at a young age.
"One of the best ways to do that is through community service and volunteering," said Thomas. "And through that learning about what the issues are in their communities, so that they can connect to what is sort of their passion and where they see they would like to make a difference, both with their time as well as through their giving."
Pointing out that philanthropy is defined as love of humankind and love of mankind, Thomas said it can start in your own neighborhood.
"Every community and even every neighborhood has unique needs," said Thomas. "And I think for folks to get off of their screens and learn about their neighbors and where there's need. I think philanthropy is - it's a state of mind as much as it is an activity."
The Giving Tuesday website reports that more than three-fourths of acts of generosity are non-monetary.
This story was produced in association with Media in the Public Interest and funded in part by the George Gund Foundation.
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The upcoming Juneteenth holiday marks the kickoff of a new wealth building grant program for Black residents who are decedents of slavery in a few north-central states, including South Dakota.
The regional nonprofit Nexus Community Partners will begin accepting applications June 19 for the Open Road Fund, created through a $50 million donation from the Bush Foundation.
Money will be made available to Black residents living in South and North Dakota and Minnesota who are descendants of the Atlantic Slave Trade.
Danielle Mkali, senior director of community wealth building for Nexus Community Partners, said the idea is to help people, especially those who have dealt with institutional barriers, build prosperity.
"It might mean that you'll be able to put a down payment on a home, so that you don't have the stress of unstable housing any longer," Mkali outlined. "It might mean that you are able to invest in education, and you can finish that degree that maybe you've been putting off."
She explained they hope recipients establish a better sense of well-being. The group does not call the funds "reparations," noting the grants cannot correct all the harm done to Black people over the last 400 years. There are no income requirements, but applicants have to be at least 14 years old. In the next several years, $50,000 grants will go to at least 800 eligible applicants.
Those who apply will need to lay out their vision for building wealth and their proposal will be judged by a diverse panel of community leaders. Mkali emphasized the approach could be transformative for people who are awarded the grants, and even serve as a game-changer within the world of philanthropy.
"We're hoping that other funders also take a look at the work that's happening and realize that they have an opportunity, and maybe even an obligation, to consider doing something similar," Mkali said.
The program launch comes on the heels of the third anniversary of George Floyd's murder and the racial reckoning that followed.
Meanwhile, Mkali stressed it is important to take an equitable approach in awarding the grants based on population factors, looking at the states involved. She added they are doing extensive outreach in the Dakotas to ensure those who may be eligible are aware of the program.
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The Federal Trade Commission has proposed a new rule which seeks to aid Pennsylvania workers who are stuck in noncompete agreements with low-paying jobs.
Under the proposed rule, workers would gain the freedom to move and join different employers within the same industry, maximizing their ability to earn.
Samuel Jones, regional director for Restaurant Opportunities Center United, said the issue affects people in Pennsylvania who border other states with higher minimum wages. He called it a cruel practice meant for employees in more advanced fields of work.
"I think that's the critical piece," Jones asserted. "Folks don't even know what a noncompete is, and they shouldn't be applicable to this type of position."
Some companies argued a noncompete clause is necessary to safeguard their intellectual property and prevent employees from disclosing trade secrets to competitors. However, it has been reported by the Federal Trade Commission the use of noncompete treaties has resulted in reducing an employee's income by 4%, denying them more than $250 billion in accumulated income.
Noncompete agreements affect nearly one in six workers, prohibiting them from working for competing businesses or pursuing entrepreneurship in their field. To prevent agreements holding back workers, the Restaurant Opportunities Center United is taking action by submitting more than 200 public comments to the FTC during its public comment period on the rule.
Teófilo Reyes, chief program officer for Restaurant Opportunities Centers United, shared what they are hearing from workers across the state.
"We have workers who complain that they've been prevented from starting their own business," Reyes reported. "We know workers who commented that they were just stuck in low-wage jobs and couldn't get hired into higher-wage jobs because of these noncompetes."
States such as California, North Dakota, Oklahoma and Washington, D.C., have already banned noncompete contracts with a few exceptions.
The FTC will review the comments it receives and may make changes, in a final rule, based on the information and on the commission's further analysis of the issue.
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