December traditionally marks a season of giving — to our friends and families, and for many, to the charitable organizations and causes we hold dear. As the country continues to contend with the long-term societal and economic effects of the COVID-19 pandemic, the need for charitable giving feels particularly strong this December.
You can make a difference in Greater Cleveland by joining us in celebrating #GivingTuesday on Dec. 1. Launched in 2012, this international day of giving inspires people to give, collaborate and celebrate generosity. This year, our region needs your support more than ever. According to a community survey conducted this summer by partners of the Greater Cleveland COVID-19 Rapid Response Fund, more than 50% of area nonprofit survey respondents are seeing or projecting a decrease in the ability to provide services because of COVID-19 – at a time when demand for services has never been higher.
And while tax benefits are not the primary drivers of philanthropy, givers should be aware of a number of provisions in the March 2020 CARES Act that encourage charitable donations during the COVID-19 crisis. For smaller, one-time charitable gifts, the CARES Act allows non-itemizers to take a $300 above-the-line deduction for charitable contributions, in addition to the standard deduction, for the 2020 tax year. The legislation also allows itemizers to deduct up to 100% of their Adjusted Gross Income (AGI) in 2020 for cash gifts to public charities, up from 60% last year. Learn more.
Join us in celebrating a season of giving! Every contribution matters. Support the community you love and give now.