The CARES Act is Helping Donors

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The CARES Act is helping donors like you make an even greater impact!

2020 charitable giving got a boost with the new CARES act. If you don’t itemize, you can take up to a $300 deduction for a single taxpayer, and $600 for married couples. This is an “above the line” adjustment to income that will reduce a donor’s adjusted gross income (AGI), and thereby reduce taxable income.

Also part of the bill, individuals and corporations that itemize can deduct up to 100% of their 2020 AGI, up from 60% previously. Corporations may deduct up to 25% of taxable income, up from the previous limit of 10%.

Required minimum distributions (RMD) that would have had to start in 2020 do not have to start until 2021, including distributions from defined benefit pension plans and 457 plans. However, if you choose to make a qualified distribution this year, you can direct up to a $100,000 donation from your IRA in a tax efficient manner.

For more details, consult with your financial professional.

P.S. To read more about planned giving or other unique giving opportunities without writing a check, look at these other articles by Chief Development Officer, Marla Svoboda.

A Strong Finish With Year-End Giving

There’s Never Been a Better Time

Increase Your Impact With IRAs

Questions about giving?
Please feel free to reach out to Marla Svoboda, Chief Development Officer at marla@rosebrooks.org or call 816-605-7110.

Rose Brooks Is Here

Rose Brooks Center is about saving lives. Read letters from the CEO, stories about featured programs, and more here.
Serving patients experiencing domestic violence in the safety of local hospitals and clinics.
Offering a wide variety of services to support the emotional and physical well-being of children who are healing from domestic violence.
Since 2001, Rose Brooks Center has been providing quality domestic violence education to the Kansas City community and beyond.
Advocating for and guiding survivors through complex court systems.
Helping survivors repair the effects of economic abuse through credit repair, budgeting, and education.
Providing a safe sanctuary where individuals, families, and pets are welcomed, wrapped in support, and can begin to heal.
Employment Advocacy includes developing job interview skills, job search, and ongoing support to survivors in maintaining employment.
Providing confidential support, information, individual safety planning, resources, and more. The 24-hour Hotline is 816-861-6100.
Helping survivors find safe, affordable housing and gain economic stability within a safe home, free from violence.
On-site medical and healthcare services within the safety of emergency shelter.
An on-site state-of-the art pet shelter for dogs, cats, and other family pets.
Providing advocacy services for victims of domestic violence and education for officers to improve victims safety.
A school-based violence prevention program working to end the cycle of domestic violence by providing support to youth dealing with violence at home or communities.
Stories about our incredible volunteers and the work they do to support our mission.