Resources for Nonprofit Management Solutions

Strategic Partners, Books, Poster…

to help accelerate your mission, along with Jerry Twombly’s Certified Development Professional (CDP) training and direct consulting.

Resources for Nonprofit Management Solutions

2020 CARES Act and
Coronavirus Response and
Relief Supplemental Appropriations Act, 2021

 

(This is not legal advice or a legal reading of the CARES Act and Appropriations Act.  Please discuss these opportunities with your Board, legal counsel or other advisors before sharing with your donors.)

 

The Coronavirus Aid, Relief, and Economic Security (CARES) Act has been extended under the Coronavirus Response and Relief Supplemental Appropriations Act, 2021.

With this extension, you can help donors increase their annual giving.  If you have capital needs, your donors may be able to use the 2021 extension to make a major gift this year.

 

Extended Tax Deductions for 2021 Makes it Easier to Give

 

The universal deduction for charitable contributions has been extended to include gifts made in 2021.

Without itemizing, an individual may deduct up to $300 ($600 for a married couple) in annual charitable contributions in 2021.

Those itemizing in 2021, may deduct contributions up to 100% of their adjusted gross income. Corporations may increase giving to 25% of their taxable income.

Your donors will want to consult with their tax preparer for specific details, such as:

  • Contributions made by cash, check, credit card to a 501(c)3 tax-exempt organization qualify. Property, clothing/goods, and stocks do not qualify.)
  • Contributions made since January 1, 2021 may be counted toward the $300 cap. (Donations to a donor-advised fund (DAF), and some other select funds/foundations do not qualify for the deduction.)
  • Taxpayers will list it as an adjustment to income on Schedule 1 of Form 1040, and then deduct it from their gross income (along with any/all other adjustments to income) on the first page of their 1040.

 

Great News for Major Gifts

Itemizers may deduct contributions up to 100% of their Adjusted Gross Income (AGI). For example, if someone’s AGI is $100,000, they may deduct $100,000 in charitable contributions and wipe out their income tax liability entirely.

 

Donors who use this provision must tell the IRS. Any contributions in excess of total AGI may be carried forward for up to five additional years

 

Corporations

Usually giving is limited to 10% of taxable income for the corporation. That limit has been increased to 25% of the taxable income, making charitable gifts much more attractive to business donations.

 

Greg Long is the lead instructor for Jerry Twombly’s Certified Development Professional training program and CEO of The NonProfit Authority. He’s been teaching leadership principles for more than 35 years in a wide variety of church, education, and community environments.

Vision, Leadership, Motivation, Faith, Passionate Service to Others

 

Greg helps you discover your vision for making a positive difference in the world.

Using the Old Testament story of Nehemiah, this is the saga of Almighty God anointing an everyday person to step out and accomplish the miraculous. The dynamic principles of leadership found in Nehemiah’s story can be part of your story too through this modern-day, practical application.

Greg delivers an affable, inspiring, and extremely practical read that challenges us to reconsider what God wants accomplished and how to lead, so those Big Ideas become reality.

Randy Beaverson

Asia-Pacific Director, Youth for Christ

Decision-Making Tools for School Leaders

With SchoolRIGHT, you are partnering with  data collection and analysis experts, guiding you from data to decision making. Having information is important. But having the right information and knowing what to do with it is what we are all about.

SchoolRIGHT serves Christian, Parochial, International and other independent schools. We help school leaders understand their unique culture through accurate and useful data.

Our primary services include: 

  • Pinpoint School Surveys 
  • Confidential Financial Analysis for Tuition Aid Verification