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9 How Will the Tax Cuts and Jobs Act Impact Charitable Giving? We believe the tax cuts, combined with a strong economy, will result in increasing levels of individual, corporate, and foundation giving. Ultimately, the economy is a better bellwether than the tax code when it comes to giving trends. A strong economy sustains greater levels of giving. Although fewer individuals will itemize charitable contributions on their taxes, this represent a small fraction of donors, and deductions are not their primary motivator. Major donors don't give for the tax break. They give because they believe in the mission and can see the impact of their donations. Nonprofits need to focus on enabling donors to see the results of their gifts and demonstrating solid financial stewardship through transparency and accountability. Impact