December is here and the 2020 holiday season is in full swing! Sure, maybe a bit more of the holiday shopping is being done online, and what would normally be in-person gatherings are now Zoom meetings dotting the calendar. But even in these most unusual circumstances, this time of the year feeds feelings of generosity and fuels a desire to give. And although this holiday season may look different due to the COVID-19 pandemic, holiday giving remains more important than ever.
Did you know that nearly a third of annual charitable giving happens in November and December, causing organizations to rely heavily on year-end donations in order to fulfill their mission? While gifts are needed year-round, most organization’s plan for a late year influx and adjust accordingly. When you make a year-end gift to The ALS Association St. Louis Regional Chapter you do several things:
- You help meet basic, planned needs including the provision of case management and nutritional support.
- You may allow for additional, unexpected services to be given this year, such as additional grants for caregiver relief or a new piece of assistive equipment.
- You help sustain the future, allowing the organization to be positioned successfully in a new calendar year.
Additionally, the holiday season causes many people to think of a less joyous time approaching in April—tax season. This past 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 and donors:
● Individual taxpayers can claim up to $300 in qualified charitable contributions on federal tax returns, even if not itemizing deductions (and up to $600 if filing jointly).
● In addition, for those who do itemize, the limitation cap on Adjusted Gross Income (AGI) for claiming charitable deductions, which is usually 50 percent, has been lifted. This means taxpayers who itemize can claim unlimited deductions for qualified charitable contributions up to 100 percent of AGI.
By making a charitable gift before December 31, you can gain practical tax benefits while also doing something meaningful to support a nonprofit. And there are many ways you can make a gift with a personal touch, like making a donation in honor or memory of a loved one, designating your gift to a specific program close to your heart, or making a gift in the name of some special to you.
Our Chapter appreciates every supporter, and we look forward to making your giving experience meaningful and impactful this holiday season. To learn more about your options for charitable giving, please contact our Development Director Katie McGovern at email@example.com or 314-432-7257 ext 222. Happy holidays to you all!