The new tax bill could have a major impact on non-profits nationwide, including your Academy of Nutrition and Dietetics Foundation. The bill includes a higher standard deduction that eliminates the financial incentive for most families to itemize deductions, including charitable deductions. It is estimated that more than 28 million fewer Americans could itemize their deductions, possibly leading to a $13 billion drop in charitable donations.
As many of you know, the new tax bill will take effect January 1, 2018. Even though the tax changes are expected to be implemented by February, most Americans won’t feel the effects of the tax reform until spring 2019, when they file taxes for 2018. If you are hoping to take advantage of itemizing your charitable deductions this year, there is still time to make a gift before December 31, 2017. We know the new tax bill will pose some challenges for us in 2018, but we also know Academy members will continue to support their Foundation because of the value we bring to the profession and impact we make annually.
Our success is directly attributable to the generosity of our donors. I can think of no better way to invest in the future of our profession and give back to help future generations. Your gift will help ensure that the Academy’s Second Century is one where our new Vision – a world where all people thrive through the transformative power of nutrition – becomes a reality. Have a happy and successful new year!
Martin M. Yadrick, MS, MBI, RDN, FAND
2017 – 2019 Academy of Nutrition and Dietetics Foundation Chair