onPhilanthropy - How KETRA Helps Donors Maximize their Charitable Deductions. An Interview with philanthropy advisor Janice Schoos

onPhilanthropy - How KETRA Helps Donors Maximize their Charitable Deductions. An Interview with philanthropy advisor Janice Schoos: "How KETRA Helps Donors Maximize their Charitable Deductions. An Interview with philanthropy advisor Janice Schoos
By: Nathan Shaver, 12/09/05

On September 23, 2005, President Bush signed into law the Katrina Emergency Tax Relief Act of 2005 (KETRA). While enacted in order to aid storm victims in the Gulf region, this legislation also allows for any cash giving between August 28 and December 31, 2005 to be fully deductible – up to 100% of AGI – twice the normal limit of 50%. The provisions of this bill open many doors for donors to contribute not only to disaster relief efforts, but also to other charities or organizations. Observations in Philanthropy felt it would be helpful for our readers to explore the impact of this legislation – and the benefits for donors and non-profits – with Janice Schoos, Senior Managing Director of the newly created philanthropic services division at Changing Our World.


OIP: What should non-profit organizations be thinking about in light of the KETRA legislation?

JS: Congress recognized that the fund-raising efforts of non-Katrina related organizations might be severely hurt this year. Non-profits should reach out to their donors to point out that the tax change applies to non-Katrina contributions, as well as those made to help disaster relief."