President Obama Could Hurt Charitable Giving In 2013 And Beyond

10.10.12 | Sarah Harnisch

President Obama wants to cut the tax deduction for charitable giving and that could hurt a lot of churches and ministries. Rick Dunham is C.E.O. of Dunham and Company, a North Carolina-based organization that helps not-for-profits improve their fundraising. He says "the most important sectors of charitable giving, especially donors that are conservative, which tend to be the most generous donors, nearly 1 in 2 said their giving would decrease should President Obama be re-elected." The Center of Philanthropy predicts it will take another 5 years just to get back to 2007 levels of giving. Charitable giving in this country has dropped from a high of 311 billion dollars in 2007 to less than 275 billion last year.