The new CARES (Coronavirus Aid, Relief, and Economic Security) Act is designed to help you, businesses, and nonprofits facing economic hardship during the coronavirus pandemic.
The CARES Act includes several charitable tax provisions to encourage giving.
- A new deduction for charitable donors who do not itemize when filing their tax returns. If you do not itemize but make a gift to charity, you will be allowed to take a special tax deduction, up to $300, to reduce your tax liability.
- An increase in the deduction limit up to 100% of a donor's annual income for cash gifts (previously, the deduction was capped at 60% of annual income). If you make a gift you will be able to deduct more this year.
Your Charitable Goals
We are deeply grateful for your support during this difficult time. Please contact Gregory Perrin, associate vice president for development and alumni relations at firstname.lastname@example.org or 512-448-8452 to discuss how your gift can make a great difference in the lives of our students.