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New York City Comptroller Scott M. Stringer New York City Comptroller Scott M. Stringer

NEW YORK CITY—While much of the criticism of the federal tax reform bill has been focused on real estate tax-related costs to individuals and corporations in New York and other high costs states, a new report by New York City Comptroller Scott M. Stringer says the non-profit sector will also get hit hard by the new law.

The report released on Wednesday specifically points to the expected reductions in charitable contributions, higher taxes on unrelated business income and an excise tax on university endowments included in the Tax Cuts and Jobs Act enacted into law last December as damaging to non-profit concerns.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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