Non-profits across the country are concerned with the impact of the recent tax changes on their ability to raise funds and deliver services to their constituents and communities. This is especially true in New Jersey, where limitations on deductions can impact many in the Jewish community.
Jewish Federations have played a proactive role advocating for resources to help the vulnerable in our communities and to ensure that non-profits can do their work as effectively as possible. That is why our leadership was invited to participate in a special listening session with Congressman Frank Pallone about the impact of these recent changes.
“Congressman Pallone’s meeting with key leaders of Central NJ non-profits, including Jewish Federations, was an important opportunity to better understand the significant and potential negative impact these tax changes can have on the ability of New Jersey philanthropic and service organizations to address the critical needs of their communities," said Keith Krivitzky, CEO of the Jewish Federation in the Heart of NJ. Krivitzky represented the state's 7 Jewish federations, as well as the NJ State Association of Jewish Federations. “The increase in the standard deduction will impact those middle income tax return itemizers, who form the core of our community contributions, and the cap on the property tax and state income deduction has already been influencing the decision of many long-time supporters to relocate out of the state,” Krivitzky emphasized. He concluded by noting that “the fear is that the trend will continue, leading to a perfect storm of declining support at a time when local human service needs may be increasing in the Jewish community.”
Jewish Federations are seeking to get ahead of this curve by advancing their fundraising efforts and trying to develop new sources of revenues to offset potential declines.