My July 2020 column focused on a number of philanthropic gift planning strategies in light of the Coronavirus Aid, Relief and Economic Security (CARES) Act, the ongoing impact of the Tax Cuts and Jobs Act of 2017 (TCJA), lessons learned from prior pandemics, changing demographics and other factors.1 When I wrote that article, there hadn’t yet been enough time to gauge the impact of COVID-19 on voluntary financial support of the non-profit sector.
This month, some seven months after U.S. charities began to feel the effects of the pandemic, I examine patterns that have begun to emerge. While the impact initially appeared to be random and unpredictable, the ramifications of the pandemic on charitable funding have now become more clear.
I was ...
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