A Boon for Charitable Giving Is Being Threatened by Congress
On Real Clear Policy, the Roundtable’s Howard Husock writes:
While many continue to wait for the relief they hoped 2021 would bring, many small businesses and social service organizations are still struggling. Some 83 percent of nonprofits have reported a decline in revenue with nearly three-quarters having to reduce their services. This at a time when upper-income households are faring better during the pandemic — and Wall Street is under fire for favoring big investors. It is welcome news, then, to learn that, like any well-managed endowment, Americans funds dedicated to charitable causes and available at the discretion of small donors across the nation, have grown by more than 5 billion dollars from 2015 to 2019 alone.
This is not a hypothetical. It has actually taken place as a result of a dramatic change in the world of charitable giving in recent years. And it provides a special reason for optimism.