CASA, Coronavirus & Giving Under the CARES Act

 

As a supporter of CASA, we wanted to tell you how CASA is responding during the Coronavirus epidemic and how charitable giving has changed with the stimulus packages passed recently.

We have compiled some resources below, but if you have any questions, please e-mail Emily Cross Vayr, Development Director, at ecross@casa4kids.org.

How is the Coronavirus impacting CASA kids?

Champaign County CASA is committed to preventing child abuse and neglect in our community, and we are financially strong and still responding to protect the children in our care. We're checking up on all of the children we serve and making sure they are getting the services and support they need.

Your gift makes a direct impact on the children who need us most. It's times like these that we realize how important and extra set of eyes or ears are in helping children who have been abused or neglected. With your help, we can remain fiscally strong and support children who are the most vulnerable during this time.

How does CARES impact my gift?

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (S. 748) provides significant funding for businesses, hospitals, schools, and social support programs, and more. This includes an above-the-line deduction (universal or non-itemizer deduction that applies to all taxpayers) for total charitable contributions of up to $300. The incentive applies to contributions made in 2020 and would be claimed on tax forms next year. (Section 2204.)

The bill also lifts the existing cap on annual contributions for those who itemize, raising it from 60 percent of adjusted gross income to 100 percent. For corporations, the bill raises the annual limit from 10 percent to 25 percent. (Section 2205.)

This information is provided by Forefront, Illinois’ statewide association representing grantmakers and nonprofits.

Where can I find more information?

Your financial advisor or accountant will be able to help you with more detailed planning. If you have any questions about your giving, please contact Emily Cross Vayr, Development Director, at ecross@casa4kids.org.

 

Thank you for supporting CASA kids!

 

 

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