Posted by: jenzisser | May 4, 2020

Giving Tuesday Now

charity

Giving Tuesday Now is May 5, 2020 and I want to encourage you to take time to consider what your business could do to unite, even if from afar, to make a difference not only on this day but beyond.

From very early in my life, I understood that giving back is important – whether of time, talent or treasure. As a business owner, it’s an integral part of my business culture and how we tick. All of us at TASC are ready for tomorrow and Giving Tuesday Now. This is a global day of giving taking place on May 5, 2020 as an emergency response to the extraordinary need caused by COVID-19.

It is our hope that this event will bring giving back to the forefront of people’s minds. Giving has been steadily decreasing for some time. According to Giving USA’s 2019 Annual Report, individual giving has decreased from 70% of overall giving in 2017 to 68% in 2018. This is the first time giving by individuals has fallen below 70 percent of overall giving since at least 1954. Unless something changes this trend is likely to continue.

We start with Giving Tuesday Now, a day dedicated to giving and then we build upon it. The Greater Give supports and provides the construct for sustainable charitable giving to help employers easily implement workplace giving initiatives that empower the Everyday Philanthropist® through the Everyday Philanthropist Act (H.R. 4002).

The recent Coronavirus Aid, Relief, and Economic Security (CARES) Act allows for two important changes to charitable giving for the 2020 tax year: the temporary partial Universal Charitable Deduction (UCD) and expansion of the limitations on larger giving. The Greater Give is supportive of any proposal or legislation that will encourage and expand charitable giving. We applaud legislative proposals that foster a culture of giving back, especially in these chaotic and challenging times.

These changes are a good first step, but these provisions will only apply for this year. We need a lasting solution and we’ve got one: The Everyday Philanthropist Act. We are working with legislators on this groundbreaking legislation to encourage giving by allowing employees to set aside up to $2700 pretax for the purpose of donating to the causes they care about. This would be a permanent improvement that facilitates a culture of giving.

The Everyday Philanthropist Act would give employers the opportunity to empower employees to give back and provide incentives for their business at the same time through tax savings. This compels more giving and increases the resources available to help our neighbors in need which benefits entire communities, bringing businesses and employees together.

It’s a win-win-win!

Please join me in making a contribution to your favorite cause on Giving Tuesday Now and please consider joining the movement to make Everyday Philanthropist Act a reality that helps inspire giving all year around.


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