Three Boston Nonprofits among Top 100 Largest in the Nation
November 14, 2020 — Three Boston-based nonprofits are among the 100 largest nonprofit organizations in the United States among those that derive at least 10% of their revenue from public support, according to a newly compiled listing published this week.
Included among The 2020 NPT 100, based on revenue and income for fiscal year 2019, published by The NonProfit Times (NPT), were:
Fundraising expenses for the 100 nonprofits as a whole were up slightly in fiscal year 2019, compared to the year before, as the total number of taxpayers itemizing and taking charitable deductions in 2019 as a result of the 2017 federal tax reform legislation, NPT reported.
NPT noted: “The number of taxpayers itemizing dropped from about one-third to one-tenth of filers in 2019, according to IRS data. But, that doesn’t necessarily reduce giving. Several studies in recent years projected a drop in giving as a result of tax reform passed in late 2017, though overall giving has been up, with a larger proportion coming from higher-income households.”
“Just because someone doesn’t take a deduction, it doesn’t mean they don’t give. It’s just harder to track,” said Dan Romano, partner and nonprofit tax practice leader at Grant Thornton LLP, which partnered with NPT to compile and analyze the data from nonprofit tax forms.
“They’re not getting that tax benefit and might not be as inclined to give as in the past, he added. “Smaller-dollar donors are the ones who are really in jeopardy because of the pandemic and the state of the giving environment,” he added.
According to NPT, “Organizations that rely on smaller donors probably are in for a tough time this year, as people are unsure what they can give, especially if they’ve been unemployed for a time.”