|
CHARITABLE CONTRIBUTIONS THROUGH THE YEARS
Print Version
By Ben Borchers, CPA
– Senior Accountant
"He who wishes to secure the good of others has already secured his own." - Confucius
Giving to charity is a strong tradition within the United States of America. We all admire people who live the credo "It's better to give than receive." Seeing as this is the time of year most Americans file their tax returns, let's review prior year data regarding charitable contributions.
Every year, the Internal Revenue Service (IRS) reports data obtained from filed tax returns of the previous calendar year. The National Center for Charitable Statistic utilizes the related information to compile and calculate charitable giving statistics. How does your generosity compare to the national average? Average Charitable Contribution Per Income Tax Return
2010 $1,188
2005 $1,354
2000 $1,050
1995 $ 634 Average Charitable Contribution Per Return Expressed As A Percent of Adjusted Gross Income
2010 2.1%
2005 2.5%
2000 2.2%
1995 1.8%
The source of data published by the IRS regarding charitable contributions includes returns with itemized deductions exclusively. Historically speaking, roughly one third of taxpayers itemize their deductions while the remaining taxpayers apply the standard deduction. Nobody knows precisely how much non-itemizers donate to charity. Regardless of the limitations, analysis of available data from an itemized taxpayer return provides useful trends and patterns for the American population.
Hopefully this article served as an educational tool and shed light regarding individual charitable contributions over the years. Whether great or small, acts of charity are a constructive way to bring positive change to the world.
If you have any questions regarding the article above or any other issue affecting your not-for-profit organization please contact your Blue & Co. advisor or e-mail us at blue@blueandco.com or call us at 800-717-BLUE
Please visit our website at http://www.blueandco.com for more information regarding the services we provide.
CIRCULAR 230 DISCLOSURE: To ensure compliance with recently-enacted U.S. Treasury Department Regulations, we are now required to advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including any attachments, is not intended or written by us to be used, and cannot be used, by anyone for the purpose of avoiding federal tax penalties that may be imposed by the federal government or for promoting, marketing or recommending to another party any tax-related matters addressed herein. |
|
|
|
|
Blue
& Co, LLC
| 101 West Kirkwood Avenue
| Suite 236 |
Bloomington, IN 47404
Blue & Co, LLC | 12800 N. Meridian Street | Suite 400 | Carmel, IN 46032 *
Blue & Co, LLC | 627 Washington Street | Columbus, IN 47201
Blue & Co, LLC | 8800 Lyra Drive | Suite 450 | Columbus, OH 43240
Blue & Co, LLC | One American Square | Suite 2200 | Indianapolis, IN 46282
Blue & Co, LLC | 250 West Main Street | Suite 2900 | Lexington, KY 40507
Blue & Co, LLC | 500 West Jefferson Street | Suite 1600 | Louisville, KY 40202
Blue & Co, LLC | 2650 Eastpoint Parkway | Suite 300 | Louisville, KY 40223
Blue & Co, LLC | 106 Community Drive | Seymour, IN 47274
* firm administration location
|
|
|
|
Please add Blue & Co., LLC to your approved senders list to ensure uninterrupted communication.
|
|