Ideas for Giving and Moving Forward in 2021

Though the COVID-19 era is both a complex and fluid situation, the Foundation's work and our mission to serve the university remains unwavering, as do our positive thoughts for alumni and friends. To say that it's a unique time in the history of our country would be an understatement.

1. 2021 Giving Incentives

The CARES Act passed in 2020 included several charitable tax provisions to encourage giving. Congress has extended these provisions for 2021 including:

• A deduction for charitable donors who do not itemize when filing their tax returns. If you do not itemize but make a cash gift to charity, you will be allowed to take a special tax deduction, up to $300 ($600 for joint filers), to reduce your tax liability.
• An increase in the deduction limit, up to 100% of a donor's annual income for cash gifts (previously the deduction was capped at 60% of annual income). If you make a gift, you will be able to deduct more this year.

2. Donor Advised Funds

If you have a Donor Advised Fund (DAF) and wish to help us this year, you can make a gift from your DAF to support our work without affecting your personal financial security.

3. Charitable Gift Annuities

If you are concerned about your financial security given the ups and downs of the stock market, you may want to consider making a gift to fund a charitable gift annuity. You might be surprised by the benefits. You can exchange your low-performing stock, CDs, or cash for guaranteed, lifetime fixed payments. If you make a gift of an appreciated asset, you will not have to pay capital gains when you fund the annuity. You may also benefit from a tax deduction this year and a portion of your payments could be tax-free.

Click here to learn more.

4. Charitable Bequests

Many of our friends are updating their estate plans. If you would like to support our cause with a charitable bequest, we'd be happy to assist you. Please contact us for a copy of our free estate planning workbook or click here to learn more.