FARMINGTON, CT -- The Connecticut Restaurant Association launched a relief fund Wednesday to help hospitality workers throughout the state, and will distribute individual $500 grants to employees whose jobs have been impacted by the COVID-19 crisis. The fund will be supported by private, community, and individual donations.
NEW BRITAIN, CT -- An opinion article penned by Dave Davison, former president of the American Savings Foundation, encourages indivdual giving, reviews why individuals give to charity, and the discusses the possible affects of the new Federal tax laws on indivdual charitable giving.
NEW YORK, NY -- The Internal Revenue Service announced today the official estate and gift tax limits for 2019: The estate and gift tax exemption is $11.4 million per individual, up from $11.18 million in 2018. That means an individual can leave $11.4 million to heirs and pay no federal estate or gift tax, while a married couple will be able to shield $22.8 million. The annual gift exclusion amount remains the same at $15,000. For the ultra rich, these numbers represent planning opportunities. For everybody else, they serve as a reminder: Even if you don’t have a taxable estate, you still need an estate plan.
WASHINGTON, DC -- The biennial 2018 U.S. Trust Study of High Net Worth Philanthropy found that 90 percent of affluent households gave to charity in 2017, and 48 percent of them volunteered at nonprofits. In addition, annual giving among the wealthy in 2017 rose by 15 percent compared with two years earlier.
BOSTON, MA -- Research on giving in the United States has now produced definitive empirical evidence to show a decline in the participation and amounts donated by “small” and “medium” (actually, median) donors and an increasing reliance on “large” donors. That lead sentence should make every reader stop and envision the future of philanthropy in our democracy. Nonprfit Quarterly's Patrick Rooney writes in support of a universal charitable deduction.
CONNECTICUT -- In observance of Black Philanthropy Month (BPM) in August, The Prosperity Foundation (TPF) will officially launch its first-of-its-kind annual #GIVEBLACKCT giving campaign on Wednesday, August 29, 2018. Commencing at 12:00 a.m. to 11:59 p.m. on the 29th, TPF will host its official on-line, and social media “Give Back by Investing in Our Community Day.”