Donors & Friends

The Coronavirus Aid, Relief an Economic Security (CARES) Act provides tax incentives for charitable giving in 2021. For individuals who itemize: You can now make cash contributions of up to 100 percent of your AGI (increased from 60 percent). Corporations: Corporations can now deduct up to 25 percent of taxable income (increased from 10 percent). For individuals who use the Standard Deduction: The CARES Act allows for an additional, “above-the-line” deduction for charitable gifts made in cash of up to $300. If you are not itemizing on your 2021 taxes, you can claim this new deduction.