New tax code has nonprofits anxious ahead of GiveBigNRV fundraising sprint

The workers unloading donated sofas behind the Habitat for Humanity ReStore say they aren’t filling out as many tax receipts. “Don’t worry about it,” is the common refrain ever since new federal tax laws took effect and reduced the benefits for smaller gifts, ReStore employee Sam Webb said. “I don’t think I can use it.” It’s a trend that has nonprofits anxious as they approach GiveBigNRV on April 24, the annual 24-hour fundraising sprint for nonprofits across the New River Valley. The federal Tax Cuts and Jobs Act doubled the standard deduction for taxpayers last year. Nationwide, that means fewer people will surpass the threshold, fewer people will itemize returns and fewer people will claim deductions for charitable contributions. And that means fewer people will give at all, nonprofits fear.