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What Caused Charitable Contributions to Surge in 2017?

South Carolina Business Review logo

According to Giving USA 2018: The Annual Report on Philanthropy for the Year 2017, a booming stock market and strong economy have caused a surge in charitable giving in this country.  Could this also be the result of donors getting their charitable contributions in before changes in the tax law took effect in January that are now restricting the tax deductibility of those contributions?

Mike Switzer interviews June Bradham, principal of Change Develop Move, a consulting company for non-profit organizations, that is based Charleston, SC.

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.