Legacy Giving Corporate Sponsor
Thank you for your support of the Van Wezel Foundation. While the health and wellbeing of our family and loved ones is our top priority at this time, our office is open as a resource for donors considering making an impact during these unprecedented times.
The Consolidated Appropriations Act (CAA) replaces the expired CARES Act, which was created to help individuals, businesses, and nonprofits facing economic hardship during the coronavirus pandemic. While many of your giving options and opportunities have not changed, there are a few key points to note:
The CAA continues the CARES Act provision to allow full tax deductibility for all cash gifts up to $300 regardless of whether you itemize or not and expands it to $600 for married couples filing jointly. For individuals who do itemize, gifts to the Van Wezel Foundation are now tax deductible up to 100% of your adjusted gross income (up from 60% in previous years).
Reminder: While you may look at $300 as a small gift, we remind you that gifts of all types and sizes combine to have a huge impact!
NOTE: The CARES Act suspension of Required Minimum Distributions has not been extended into 2021
If you have to take the RMD in 2021, make that a gift to the Foundation and it won't count as any part of your taxable income.
If you are 70½ or older, you can make a gift from your IRA to the Van Wezel Foundation of up to $100,000
In these delicate and unprecedented times, we're especially grateful for your support. Planned gifts from people like you sustain our ability to carry on. We welcome your questions and comments. Contact us any time.
As always, please consult a qualified advisor before making a new gift commitment.