POSTED: Monday, December 10, 2012 - 11:00pm
UPDATED: Monday, December 10, 2012 - 11:14pm
The New Year may not hold a lot of promise for nonprofit organizations threatened by a looming fiscal cliff.
Should sequestration become reality, it would have a profound effect on all nonprofit organizations. That’s not only because it would limit or eliminate deductions for charitable giving, but it is also expected to cut or eliminate federal funding for nonprofits.
Aliceson Howell, executive director of the Greater Longview United Way, said there has been significant discussion in recent days about possible limitations on itemized deductions, including the charitable deduction, at her agency.
“The fact of the matter is, fewer charitable dollars and government cutbacks are a double hit to those who need help the most,” Howell said. “We have seen an increase each year for resources needed locally through InfoLine calls, as well as our partner agency program reports, and it will exponentially increase if charitable deductions are compromised.”
United Way is working with its board, volunteers, staff and the community to identify new and different funding alternatives, as well as protect and grow current assets, she said.
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