Brother can you spare a dime? Maybe not under the new tax plan

With the doubling of the standard deduction and the capping of deductions for state and local taxes in the new Tax Cuts and Jobs Act, fewer people will itemize deductions on their federal income tax return. This could be calamitous for charities and other tax-exempt nonprofit organizations, which rely on the deductibility of donations to incentivize contributors. That incentive evaporates for taxpayers who don’t itemize, leading the National Council of Nonprofits to characterize this aspect of the new tax law as “disastrous.”

So, how badly could charitable organizations suffer under the new tax plan?