I support Idaho Youth Ranch because I believe that all people have a basic need to be encouraged and to feel loved. Knowing that there are people who care and are willing to help can make all the difference. We do this through parenting, teaching and mentoring. We can also do this through giving of our resources to help the programs provided through Idaho Youth Ranch flourish and succeed. This is such a difficult time in our world and I realized that by social distancing some of us have a little more disposable income, money that we are not spending on vacations, theater, restaurants, or whatever we had filled our lives with.
Did you know that, in 2018, charitable giving decreased by roughly 6% in the first quarter compared to the same quarter the year before? Year-over-year data showed that new donors decreased by 12% as well. Why is this? Tax reform. A lot of people found themselves in a lower tax bracket, meaning their take-home pay increased, and their standard deduction was much more of a temptation than making itemized deductions.
When tax season comes around, do you ever find yourself asking yourself, "Why did I not give more to charity so I could claim the tax deductions?" Maybe not, but it could be a fair question. You can receive a sizable deduction if you've given a sizable amount to charity.