Fiscal Cliff: Are Charities Worried?
Photo: Video by nbc26.com
APPLETON, WI -- The threat of going over the "Fiscal Cliff" has some local non-profits concerned.
There have been proposals to reduce tax deductions for charitable donations. Local organizations say that would hurt those who need their services the most.
“We have a lot of person-to-person donations,” said Danielle Englebert, the Executive Director of the YMCA of Appleton.
They give out nearly one million dollars each year for childcare assistance, much of it comes from donations. The executive director is worried about that money coming in.
“Will they give? Will they scale it back?” said Englebert.
The Community Foundation of the Fox Valley helps donors give their money to local non-profits, like the YMCA the Performing Arts Center and the Humane Society. They say the tax deductions help.
“Charitable deductions is one of the things that gives people the incentive to do that,” said Curt Detjen, the President and CEO of the Community Foundation of the Fox Valley.
They're not concerned giving will stop, but it may be altered. That’s the same for the YMCA, they're afraid people may even wait to give.
“There’s some uncertainty about what I will have in my household budget,” said Englebert.
One thing they know, the need for services is increasing.
“It’s the nonprofit sector that will pick up the slack,” said Detjen.
The YMCA of Appleton said they do a lot of their fundraising at the beginning of the year.
The director said she hopes the government will come to an agreement before it's fundraising time again.
Right now they can only hope to exceed last year’s donations in some way.