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The Philanthropic Impact of ATRAThe Philanthropic Impact of ATRA

Robert F. Sharpe, Jr, CEO

March 6, 2013

12 Min Read
Jitter

On Jan. 1, 2013, Congress enacted the American Taxpayer Relief Act of 2012 (ATRA). While this legislation will have broad impact on the nation as a whole, it promises to impact philanthropy in a number of ways. 

 

Charitable Deduction Remains Intact

Throughout 2012, Congress made a number of proposals to limit the amount or value of charitable deductions. Some suggested a cap on the amount of deductions that could be claimed, regardless of one’s tax bracket. That led to fears that mortgage interest and other relatively fixed deductions would crowd out charitable gifts and result in the effective elimination of the charitable deduction for many taxpayers.

The Obama administration and others proposed limiting the value of itemized deductions t...

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About the Author

Robert F. Sharpe, Jr

CEO, Encore

Robert F. Sharpe, Jr. is CEO of Encore in Memphis, Tenn. He is a nationally recognized pioneer, leader and authority in the field of philanthropy. During more than 35 years serving America’s nonprofit community, he has consulted nationally with educational, health, social service, arts and religious organizations and institutions in the planning and implementation of their major, planned gift and endowment development efforts. A graduate of Vanderbilt University and Cornell Law School, he served as a development officer for a liberal arts college prior to practicing law with a major law firm specializing in taxation and estate planning.

Robert is chairman of the philanthropy editorial board of Trusts & Estates magazine and co-author of the National Association of Charitable Gift Planners (CGP) Model Standards of Gift Valuation. He has served on the board of Giving USA and on strategic task forces for the CGP. Among other publications, his remarks have been featured in The Wall Street Journal, The New York Times, Newsweek, Forbes, Smart Money, The Chronicle of Philanthropy and Kiplinger’s.

He is a frequent speaker at gatherings across the country including Planned Giving Councils in New York, Washington, Chicago, and Los Angeles, the National Association of Charitable Gift Planners national conference, the Association of Fundraising Professionals (AFP) National Conference, and the American Bankers Association Wealth Management and Trust Conference.