The Chronicle on Philanthropy yesterday, featured an article titled, Budget Plan Brings Big Changes to Tax Incentives for Donors. President Obama is proposing to sharply limit the value of charitable tax breaks for wealthier individuals for the fiscal year 2012. “For too long we have tolerated a tax system that’s a complex, inefficient, and loophole-riddled mess,” President Obama wrote. I believe it is important for all nonprofit leaders to read this document, as legislation could significantly impact any major gift effort.
Originally posted on February 15, 2011.