Nonprofits wary of tax law’s impact on giving

FLEXIBLE DOLLARS: David Caprio, president of Children’s Friend, a nonprofit social service and education agency in Providence, speaks to the kids at Friendship Center. Caprio says although individual and corporate donations make up less than 10 percent of the nonprofit’s budget, those are its most flexible dollars. / PBN PHOTO/MICHAEL SALERNO
FLEXIBLE DOLLARS: David Caprio, president of Children’s Friend, a nonprofit social service and education agency in Providence, speaks to the kids at Friendship Center. Caprio says although individual and corporate donations make up less than 10 percent of the nonprofit’s budget, those are its most flexible dollars. / PBN PHOTO/MICHAEL SALERNO
For nonprofits that solicit individual and corporate donations, one of the potential pitfalls of the new federal tax law is the doubling of the standard deduction, for individual and married couples. If taxpayers now choose that option because it has tax advantages, they can no longer deduct their charitable giving for the year. Only taxpayers…

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