• LIVE VIDEO Track the weather on Live Doppler 7

Charity organizations concerned donations will decrease with tax code changes

EMBED </>More Videos

There are growing concerns amongst charitable organizations that changes to the tax code will disincentivize people from donating money. (KGO-TV)

There are growing concerns amongst charitable organizations that changes to the tax code will disincentivize people from donating money.

Larkin Street Youth Services helps more than 2,500 homeless young people in San Francisco every year.

"Which sounds like a really large number until you realize there are 1,300 young people on the streets every night," said Communications Manager Veronica Pastore.

Zak Franet was one of those people. "By the time I was 18 or 19 I had developed a fairly serious drug problem and ended up on the streets of Oakland."

After finishing treatment at 22 years old, Franet needed a place to live.

"I was definitely ready to turn my life around but didn't necessarily have the tools or the resources to make the next positive step," said Franet.

Larkin Street Youth Services provided Franet housing, health services and hot meals, helped him get his GED and trained him for the job market even providing work appropriate clothing when necessary.

"The impact of the services this organization has provided is immense and I honestly can't tell you where I would be today without it," said Franet.
Now many worry the doubling of the standard deduction could disincentivize people from making charitable donations.

"With the change in the tax code we do feel a major concern about it affecting those more middle-income donors who really provide a bulk of our private dollars," said Pastore.

The CEO of Meal on Wheels San Francisco is also concerned.

"Some studies suggest there might be as much as $13 billion over time reduced from charitable giving," said Ashely McCumber, CEO Meals on Wheels San Francisco.

A potential reduction will hurt Meals on Wheels, especially since they're growing at 10 percent a year requiring increasing not declining donations.

Despite tax code changes charitable organizations hope donors will continue to support them so they can continue to the support the people they serve.

Click here for more information on Larkin Street Youth Services.

Click here for more information on Meals on Wheels SF.

Related Topics:
businessmoneycharitycharitiesdonationshomelessmeals on wheelstaxesSan Francisco
(Copyright ©2018 KGO-TV. All Rights Reserved.)

CHARITY
More charity

BUSINESS
More Business

Top Stories
Show More