Budgeting

20 Mar 19
The Colorado Sun
For the first time since it began in 2010, Colorado Gives Day saw donations fall flat last year. Local nonprofits had already experienced declines, like Goodwill Industries of Denver, which saw contributions sink by 20 percent in the prior year. Colorado nonprofits overall landed with a thud, according to new state data showing nearly no growth in donated dollars to nonprofits registered with the state. The ColoradoSecretary of State’s 2018 annual charitable solicitation report, released this week, said $4.7 billion in donations went to a record 7,321 Colorado-based charities. But the amount was down by a few million dollars from the prior year. Nonprofits nationwide are bracing for what could be an even larger decline in 2018 because of changes that gave taxpayers a larger standard deduction for 2018 and made itemizing unnecessary for many. However, the impact of the tax change isn’t yet known in Colorado because the latest state nonprofit data is from 2017. “What that means is that almost half of the people who previously donated and about half of the charitable deductions they claimed on their federal return are not being itemized anymore. That amounts to about $1 billion of claimed charitable contributions,” said Renny Fagen, president and CEO of Colorado Nonprofit Association. “Those taxpayers are still going to be charitable and give, but whether they will give at the same amount remains to be seen.” The association sent a survey to 100 nonprofits and found that 30 percent don’t expect to “meet or exceed” revenue goals for 2018. Another 14 percent “already changed their strategies in response to the tax reform,” according to the survey. However, 89 percent also said they are “somewhat and very” optimistic about 2019. “Nonprofits are going to be looking at how they did in 2018 with individual donations and they need to make adjustments accordingly,” he said. “But they need to do that every year.” Nonprofits, however, don’t feel Coloradans are becoming less charitable. “They may have felt a little insecure with how the market is changing and the tax laws so they gave a little less,” said Dana Rinderknecht, director of online giving for the Community First Foundation, which organizes Colorado Gives Day. “On the other hand, we had more donors on Colorado Gives Day, which would align with the idea that people still want to give, and they still want to support their favorite nonprofits.” Not all of 2018’s decline is blamed on tax reform. Colorado Gives Day landed on Dec. 4, the same day the stock market plummeted 800 points. That likely had an effect on higher-income folks who donate for tax purposes. The 2018 day raised $35.1 million, or $1.5 million less than the previous year, Rinderknecht said. More people contributed than in the past. And the overall charitable spirit offset the rather ominous day. “The most common donation last year was $100, and that was the most common donation in 2017,” she said. “We were flat, but I do think that the bigger donors didn’t give as much as they had because they were affected more by the stock market.” Over at Community Shares, which works with employers to set up workplace giving campaigns, final numbers for 2018 are not yet in. Read more politics and government coverage from The Colorado Sun.  But anecdotally, said CEO Erin Atwell, her organization saw shifts in giving. Some donors paused on giving gifts in order to see how the tax changes would affect their income. Others switched to a donor-advised fund, which lets the donor receive an immediate tax deduction and then make grants from the fund to charities over time. And still others moved to a “leap-year” model, where they skip a year in order to give more the next year to push them over the standard deduction. “That’s a mixed bag for nonprofits. A key piece for budgeting is having consistent giving every year and consistent donor support,” Atwell said. “The spirit of giving continued, but I think individuals were more savvy in what will this (tax change) mean to me. We still have a generous community.” Secretary of State data doesn’t accurately reflect all the ways that consumers are being charitable. If someone gives money to a family member in need, that’s not recorded as a charitable donation. Neither are donations on crowdsourcing sites like GoFundMe (donations “are generally considered to be personal gifts,” says GoFundMe, unless they are certified charities.) Consumers are also supporting more social impact entities and beneficial corporations, which are mission-minded and for-profit. And other companies are having corporate events to help out charities by volunteering time instead of money. “Those are charitable dollars that may not get captured in our reporting as well because they’re not part of the traditional philanthropic model,” Atwell said. “Some of those dollars aren’t being tracked in the same way even though they may be thought of as being the same.” Goodwill Industries in Denver saw charitable contributions fall to $20.5 million in 2017, down from $25.9 million in the prior year. Jessica Hudgins Smith, a spokeswoman for the organization, said the decline has been a concern but people and customers have been more generous with clothing and household donations — and buying merchandise from the stores. Overall revenues for 2017 were up $2 million to $65.3 million. “Our donation numbers are really strong. And that may be related to the (organizing consultant) Marie Kondo show,” Smith said. “There’s not one thing I can pinpoint but donations are extremely important to Goodwill and other charitable companies in Colorado. Our message we’re continually sharing is we encourage people to donate where they are because if you donate in Denver, your donations stay in Denver.” While the federal tax change for 2018 may affect how much Coloradans donate to charities, there is a way to make charitable donations a tax write off, at least for state income taxes, said Fagen with the Colorado Nonprofit Association. If you don’t itemize your federal return, Coloradans who donate $500 or more to charity can deduct that from their state income tax. And next year, a new state law (SB18-141) will let Coloradans easily donate their state refund to a charity of their choosing. “The state issued $1 billion in refunds last year to two million returns,” he said. “There’s a lot of capacity to be charitable.” This reporting is made possible by our members. You can directly support independent watchdog journalism in Colorado for as little as $5 a month. Start here: coloradosun.com/join More from The Colorado Sun Donations to Colorado charities fell flat last year. Some blame federal-tax reform “We all recognize we’re looking at a drier future: Official declares Colorado River drought plan complete Colorado Senate Democrats violated state constitution with computer reading of 2,000-page bill, judge says Colorado lawmakers seek overhaul for troubled $231 million program meant to help kids catch up on reading Chemical contamination from 7 Colorado coal-fired power plants found during groundwater monitoring
20 Mar 19
Toronto Sun

Dear Amy: Over the last 30 years, my father, a salesman who bounced between “commission only” jobs, has regularly borrowed money from family and friends. This has resulted in defunct friendships and family disputes due to his inability to pay these loans back. The most disheartening part is that he was using the money to […]

20 Mar 19
Financial Post

No government wants to dwell on its own errors. But only adding, never subtracting is how we’ll end up with 106+ programmes for every public policy goal

20 Mar 19
The Denver Post
Dear Amy: Over the last 30 years, my father, a salesman who bounced between “commission only” jobs, has regularly borrowed money from family and friends. This has resulted in defunct friendships and family disputes due to his inability to pay these loans back. The most disheartening part is that he was using the money to afford a lifestyle for my mother that was never reasonable. As they’ve grown older, they have been forced to give up some of the things that put them into financial hardship, including memberships to elite clubs and an overextended mortgage in a neighborhood they couldn’t afford. Now in their 70s and living in an apartment, my father continues to work minimum-wage jobs to make ends meet. I don’t think he has ever been honest with my mother about their financial situation, and she is unaware that he owes money to so many people. She continues to spend because he is not honest with her. My father continues to ask me for money. I wrote off what I have lent him over the years long ago, but with a family of my own to support I can no longer “write off” anything. I recently told him I can no longer lend him money. I carry so much guilt for the years he supported me while I was growing up and feel like I’m failing him by not supporting him now. How can I help him understand that he needs help budgeting and should be communicating with my mother? I fear that my mom will make his life miserable if she finds out the truth. — Not a Loan Officer Dear Not a Loan: I hope you don’t actually believe that you owe your father money now because he “supported you” while you were growing up. You were a child! You repay your folks by paying it forward and by supporting your own children. [related_articles location=”right” show_article_date=”false” article_type=”automatic-primary-tag”] Of course, adult children should try to assist their elderly parents, but so far, your assistance in the form of unrepaid “loans” has only enabled your parents to live a lie. This has harmed your relationships — and theirs. Your mother might have some awareness of your father’s financial chicanery. At this stage you should meet with them, together, in order to discuss next steps for them. What if one of them becomes ill or incapacitated? What are their intentions for the later stages of their lives? Realistically, what is your ability to assist them? Living a lie will always backfire. You can help them try to pick up the pieces. Approach them with a loving and open attitude. Dear Amy: I’ve been best friends with “Sam” for seven years now. We’ve always had a great friendship and have always been close. Unfortunately, her husband and I don’t get along. I look past that for the sake of our friendship. About a year ago, Sam, her husband and her child invited me to share an apartment. Everything went well for the most part. I avoid her husband, so there is no conflict. I usually spend a lot of time at work or in my room. A few days ago, Sam’s husband and I got into an argument. Sam decided to take her husband’s side. And without speaking to me she gave our landlord her notice to move. So now she’s leaving me in a situation, because I can’t afford to stay here alone. She doesn’t understand why I’m upset. We haven’t spoken in almost a week. I don’t want this to end our friendship! Help? — Home Alone Dear Home Alone: You must face the fact that spouses most often back each other up. Sometimes this means even sacrificing a friendship. “Sam” may have seen the writing on the wall, or her husband may have pressured her to move out. You’ll need to find other roommates. Speaking optimistically, if you find compatible people to live with, you won’t have to hide in your room. With some distance, your friendship may revive. Dear Amy: Thank you for your response to “Furious Neighbor,” who was considering withdrawing from her neighbor’s life over an incendiary Facebook post. Here’s the line I love: “But should you continue to be a respectful and helpful neighbor to her? Yes, you should. Your behavior should reflect who you are, not who she is.” — Impressed Dear Impressed: The high volume of negative responses to my answer didn’t seem to allow for that particular thought. Ultimately, we should all seek ways to reconcile. Thank you for noticing.
20 Mar 19
Clarity 360™

The common perception within the procurement world is that digitisation is inevitable. Most procurement leaders state “it is not a matter of when – but what”. There a number of solutions now available in the market – be it contract management, sourcing platforms or procure-to-pay – all aimed at different levels of organisations…………

20 Mar 19
Tara Greene,Tarot Reader, Astrology, Psychic

All equinoxes are power gateways. This is a doubly charged SUPER FULL MOON, and so much is going on. This chart is the GO TO chart for the next 3 months. Its very complex a new world is being birthed. Labor is painful.

20 Mar 19
THE THREE YEAR EXPERIMENT

Ahh, simplicity. So simple, yet so illusive. The simplicity paradigm, of course, is that the less we have, do, and schedule, the better off we are. Less really is more. Nowadays this truism is something like common knowledge. Our lives are inundated with so much stimulation, consumer goods, and social media that we somehow know […]

20 Mar 19
Toronto Sun

Dear Amy: Over the last 30 years, my father, a salesman who bounced between “commission only” jobs, has regularly borrowed money from family and friends. This has resulted in defunct friendships and family disputes due to his inability to pay these loans back. The most disheartening part is that he was using the money to […]

20 Mar 19
The Neighbors

How was Mortgage Lending Prior to the 2007-2008 Financial Crisis? Leading up to early 2007, home prices were increasing rapidly, and banks were lending out more money than ever. In comparison to the process today, obtaining a mortgage was easy. Back then, applicants with credit scores above 720 qualified for prime lending where banks were […]

20 Mar 19
Teal Guava

Many years ago as an early twenty-something, I was told-MAKE YOURSELF A BUDGET. Truth be told, for nearly a decade, I didn’t even know how much money I brought home. Not. A. Clue. That’s the honest Truth. Fast forward to 39…I’m in a crunch to budget. Because…well…I have to get out of debt. I will […]

20 Mar 19
Policy and Politics Journal

Oliver Loveday-Fuller My name is Oli, I am currently studying for a BSc Social Policy (2nd year). I am passionate about issues surrounding inclusion and access in higher education, as well as contemporary challenges facing the welfare state.  I was delighted and surprised to receive the award for the ‘Best Undergraduate Public Policy student essay’. It […]

20 Mar 19
Calatoreste la Cluj

Global Business Management Consulting Service Market to reach USD XX billion by 2025. Global Business Management Consulting Service Market valued approximately USD XX billion in 2017 is anticipated to grow with a healthy growth rate of more than 6.2% over the forecast period 2018-2025. The major driving factors of Global Business Management Consulting Services are […]

20 Mar 19
Technology Research Reports

Key companies operating in the corporate performance management market include International Business Machines Corporation (U.S.), SAP SE (Germany.), Oracle Corporation (U.S.), SAS Institute (U.S.), Adaptive Insights (U.S.), EcoSys Management LLC (U.S.), Longview Solutions (Canada), Sightline Systems (U.S.), and VisualCue Technologies (U.S.) among others. Corporate performance management is a broader term that describes the metrics, methodologies, systems, and […]