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Generosity MattersWe Asked. You Responded. |
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Even in the midst of a relentless pandemic, devastating end-of-summer fires, and social unrest, you stayed true to the LWC. The generosity you showed in 2020 has left us feeling amazed and grateful.
Last summer, we asked you to support our Love Your Watershed program. Thanks to you, we met our ambitious goal of raising $18,000. This generosity allowed us to pivot seamlessly from our standard face-to-face gatherings to remote gatherings, which have proved to be very popular.
In November, we launched our usual end-of-year fundraising, and again you responded generously. The results are now in and we’re pleased to say that we raised an additional $8,000 in unrestricted donations — an important contribution to helping us keep the lights on in these dark times.
Two COVID-19 relief packages passed in 2020 offered some much-needed financial relief to American families. This aid also encourages charitable giving to qualified organizations like the LWC. Check with your tax or financial advisor for more information on how these apply to your 2020 taxes and how to plan for 2021 now to maximize benefits for next year.
Thank you so much for supporting the LWC and other nonprofits with your charitable giving!
Last summer, we asked you to support our Love Your Watershed program. Thanks to you, we met our ambitious goal of raising $18,000. This generosity allowed us to pivot seamlessly from our standard face-to-face gatherings to remote gatherings, which have proved to be very popular.
In November, we launched our usual end-of-year fundraising, and again you responded generously. The results are now in and we’re pleased to say that we raised an additional $8,000 in unrestricted donations — an important contribution to helping us keep the lights on in these dark times.
Two COVID-19 relief packages passed in 2020 offered some much-needed financial relief to American families. This aid also encourages charitable giving to qualified organizations like the LWC. Check with your tax or financial advisor for more information on how these apply to your 2020 taxes and how to plan for 2021 now to maximize benefits for next year.
Thank you so much for supporting the LWC and other nonprofits with your charitable giving!
- “Above the Line” Universal Deductions: If you don’t itemize, you may deduct from your adjusted gross income up to $300 ($600 for a married couple) in cash gifts made in 2020 to a registered charity like the LWC. The deduction is not available for gifts of securities. This provision was extended for charitable giving in 2021, so plan ahead! Finally, consider setting up a monthly gift to the LWC to maximize this benefit.
- No Limit on Charitable Contributions for Itemizing Donors: If you itemize deductions, you may deduct cash gifts to the LWC of up to 100% of your Adjusted Gross Income (AGI), up from 60% in 2019. The deduction is not available for gifts of securities.
- Stimulus Check Generosity: If you received tax-free stimulus checks during the pandemic, and they are not essential to your bottom line, you might consider donating all or part of these payments to the LWC. The donations are tax deductible, but rules apply, and you may need to itemize the deductions on your tax return, depending on how much you donate.
- IRA Required Minimum Distributions (RMDs) Waived: RMD requirements for IRA holders 72 and older were temporarily waived last year, but are not currently waived for 2021. Waived or not, a charitable distribution from your IRA can still be a great way to support the LWC.
- Thinking of Corporate Giving? Corporations may now make deductible cash contributions to the LWC equal to 25% of their taxable income, up from 10% of income in 2019.
Please be aware that the LWC does not give tax advice, so be sure to consult your attorney or financial advisor to see how these opportunities match your personal, charitable, and tax-planning objectives. If you have questions, please contact Kristen Larson, LWC Executive Director, at (503) 837-0237.
