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Your generous, tax-deductible, financial contributions ensure that we can continue to protect Blue Hill Peninsula’s land & water resources for generations to come.
**How the CARES Act Impacts Charitable Giving for Nonprofits in 2020**
Friday, March 27, 2020, the Congress passed and the President signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion economic stimulus package legislated to provide immediate relief for nonprofits.
The bill makes a new deduction available for up to $300 per taxpayer ($600 for a married couple) in annual charitable contributions. This is available only to people who take the standard deduction (for taxpayers who do not itemize their deductions). It is an “above the line” adjustment to income that will reduce a donor’s adjusted gross income (AGI), and thereby reduce taxable income. A donation to a donor advised fund (DAF) does not qualify for this new deduction.
You may also consider other donor options such as: