This has been a year like no other.
This year, our community was presented with two disasters – the COVID-19 global health crisis and devastating flooding as a result of the May 2020 dam failures. While the path to recovery was and is filled with a degree of uncertainty, the one thing that has been certain is knowing that our community would step-up, rally together, and persevere … because as we have been saying, “it takes a village”, and now, more than ever, we need your help.
By choosing to support your community foundation,
you’ll make it possible for us to:
• Support critical emergency needs assisting with recovery efforts surrounding two disasters here in Saginaw County
• Be a leader in our village by convening groups and individuals together to combine resources, talents and shared visions to reach common goals – neighbor helping neighbor
• Invest in projects in our village that will generate positive social returns
• Provide grants to help fund projects and initiatives here in Saginaw County – a $44 million impact since 1984
• Award nearly 600 scholarships annually for post-secondary education
• Guide young philanthropists via FORCE, our youth advisory council
• Offer our Youth First After School Program – a valuable resource for children and parents, especially during this challenging education environment
Now is the time to come together and support your village. Local folks helping create opportunities right here in Saginaw County. Your gift – regardless of size – will be a statement of support and belief in our ongoing mission to fulfill donor wishes and enable community initiatives to come to life, now and forever.
Donate now securely online or download a contribution form (PDF) and return via mail by December 31.
A provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act passed into law in March 2020 allows deductions for cash contributions made to a qualifying charitable organization, like Saginaw Community Foundation, during 2020 for up to $300 for individual taxpayers who do not itemize their taxes.
This deduction is available only to people who do not itemize their deductions. Contributions to donor advised funds, even those held at a qualifying charitable organization, do not qualify for this new deduction.
For donors who are able to itemize their deductions, and therefore directly write-off gifts to charity, the previous deduction cap was 60% of adjusted gross income*.
Corporations were able to deduct charitable donations up to 10% of taxable income. The CARES Act lifts these caps to 100% for individuals and joint filers, while corporations will see their cap lifted to 25% for 2020.
*The 60% of AGI limit is for giving to 501(c)(3) public charities. The deductibility of gifts to 501(c)(3) private foundations is capped at 30%, and was not included in this legislation.
All information has been obtained from sources believed by Saginaw Community Foundation to be accurate and reliable. Please consult your tax/financial advisor for specific tax advice.
