Wealthy philanthropists in the United Kingdom say they’d donate more if they had better tax incentives. So says a new survey by JP Morgan Private Bank.
What does that mean for you, American development professional? It means you can attract more major gifts if your donor prospects can realize greater tax benefits.
Isn’t that tough, though, when the US government is scrambling to reduce its debt and restore its credit rating? In fact, President Obama has proposed imposing stricter limits on charitable deductions.
All of that is true. We say don’t hold your breath waiting for the government to create better tax incentives. Instead, just look for the tax incentives that are already there.
Do your major donors and their advisors know about all of the tax incentives that are already available to them? Probably not. What would happen if you told them?
The JP Morgan study suggests thirty percent would dig deeper if they had better tax incentives.
Thirty percent! How would your bottom line change if thirty percent of your donors dug deeper?
Who says you have to wait for the government to change the tax code for your donors to realize greater tax benefits. You can reveal opportunities now. Even if only three percent dig deeper, you’ll win.
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