The charitable deduction is only useful if you itemize at tax time
Look at Line 40 on your latest tax return. Did you itemize or take the standard deduction?
Only 15% of Americans itemize
85% of us take the standard deduction
Which means the charitable deduction doesn't matter to most Americans (85%)
We 85% of Americans donate solely because we care
Donations from retail employees, service workers, baristas, mechanics, office workers, coders, and homemakers are all part of the $319.04 billion donated by individuals in the US last year.
Which got us thinking...
What would a community foundation built for the 85% look like?
The traditional community foundation model revolves around assets under management. The more assets, the more fees generated. What if my community foundation was incentivized to help me give money away instead of locking it away?
Can we leverage technology to extend services to more people?
Can we remove unnecessary costs while helping more people become effective donors?
SmarterGiving.org
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