Good News for Charitable Giving in 2020

June 4, 2020 | Giving, News

In the spring of 2020, 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 may help both nonprofits like MPF and donors:

  • Taxpayers may be able to make qualified charitable contributions on federal tax returns, even if not itemizing deductions.
  • In addition, for those who do itemize, the limitation cap on Adjusted Gross Income (AGI) for claiming charitable deductions, which is usually 50%, has been lifted.

MPF 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.

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