Earlier this spring, Congress passed legislation including the CARES Act (Coronavirus Aid, Relief, and Economic Security Act), which provides for a number of economic relief measures aimed at helping individuals, businesses, and nonprofits across the country during the COVID-19 pandemic. Two aspects of the CARES Act that help both nonprofits like MPF and donors:
- Each taxpayer can claim up to $300 in charitable contributions on federal income tax return, even if not itemizing deductions.
- In addition, for those taxpayers who do itemize, the limitation cap on Adjusted Gross Income for claiming charitable deductions, which is usually 50%, has been lifted. This means taxpayers who itemize can claim an unlimited deduction for charitable contributions.
- The Missouri Prairie Foundation does not offer legal, tax, or financial advice. Please consult your attorney, accountant, or financial advisor for assistance.
Donate to the Missouri Prairie Foundation today to protect our native grasslands. Information provided by the Land Trust Alliance, of which MPF is a member. Carolina rose (Rosa carolina) with hoverfly (Toxomerus marginatus) at MPF’s La Petite Gemme Prairie photo by James Trager.