Living Generously: CARES Act

Living Generously: CARES Act

Living Generously: CARES Act 1562 561 Kim Bowman

If you are feeling the call to help others during challenging times, you are not alone.  In times of need, Minnesotans step up!  

Fortunately, Congress is also encouraging our better angels. For 2020, Congress has enacted the CARES Act (Coronavirus Aid Relief and Economic Security Act) to help reduce the financial impact of the pandemic.

Included is a brand new “universal deduction” that allows taxpayers who don’t itemize to deduct up to $300 this year for charitable gifts to charities like Way to Grow. This makes giving even more appealing in 2020 and Way to Grow is thankful to receive donations of all sizes.

For those considering larger gifts, the CARES Act also allows taxpayers who do itemize to deduct their charitable gifts up to 100% of their adjusted gross income (AGI) for 2020 only, reducing and eliminating their tax burden through charitable giving. In a year when charities are working harder than ever to support those in need, a significant gift to Way to Grow is a powerful investment in children and families at a time when they need our support most. Your gift will go to work immediately to ensure that parents are equipped to teach their children, children are prepared for school, and that every child has an opportunity to succeed in school and life.

For more details, please call us at (612) 767-0425 for assistance with your gift.

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