Help a Child Feel Safe
Good News for 2020 Donations!
You will find increased deductions for your charitable giving as part of the stimulus package known as the CARES Act for all 2020 cash donations:
- Small Gifts – Donors may deduct up to $300. For the rest of 2020, an individual will be able to make an above-the-line deduction up to $300 (cash not stock) for donations to qualified charitable organizations, irrespective of whether or not they itemize their deductions.
- Major Gifts – Donors will be able to deduct a much higher amount. An individual can make a cash gift (not stock) and deduct up to 100% (previously 60%) of their adjusted gross income (AGI) for the year 2020. This is helpful for wealthier major donors; it could allow a person to make charitable gifts that eliminate their tax burden. Any contributions in excess of total AGI may be carried forward for up to five additional years, which is yet another benefit and planning tool. This may not be used to fund Donor Advised Funds or Supporting Organizations.
- Corporations have much greater incentives to make charitable gifts. The donation limit has been increased to 25% of the taxable income, making charitable gifts much more attractive to many companies. Again, the excess is carried over for 5 years. Eligible charitable contributions must be made in cash during 2020. This may not be used to fund Donor Advised Funds or Supporting Organizations.
Every gift makes a difference and generates hope for secure future. To make a gift by telephone, call 206-748-9700.
Did you know?
Your contribution goes a long way to help a child in need. The advocate you provide for a child will devote 75 – 100 hours gathering information about the child’s circumstances over 6 – 12 months — in a litigated court case where their work will be scrutinized by multiple sources. Thank you for making sure a vulnerable child’s voice is heard in court.