Black Friday markdowns at the stores were followed by Cyber Monday sales online. Now it’s on to Giving Tuesday.
Linda Czipo, the president and CEO of the Center for Non-Profits in New Jersey, says Giving Tuesday has become an important kickoff to the seasonal increase in charitable contributions.
“People tend to be very generous around this time of the year anyway. It is a season when people are thinking generously. They’re thinking beyond themselves. It just is a really important way to focus people’s thoughts on the communities around them and trying to give back to support causes of need.”
Czipo says about a third of all individual donations to charities are usually made in the last few weeks of the year.
“This year there’s a little bit of an added urgency or anxiety because there’s a lot of uncertainty with what’s going to happen with the tax reform bill and how that will affect tax deductibility of gifts for people who itemize since fewer people might be able to itemize on their tax return.”
Czipo says 75 percent of non-profit organizations surveyed report an increased demand for their services, and their funding is not keeping pace to meet the need.