Take Advantage of 2020’s Increased Charitable Deductions with a Maranatha Fund Gift Today!
As the end of the year approaches, many start to consider year-end giving and tax deductions. This year, more than ever, Maranatha needs your support. A year-end gift is a great way to support our school. Plus, this year your charitable gift provides you with increased tax deductions!
Under the U.S. Government’s CARES ACT (passed in March 2020 and pertaining to the 2020 tax year), those who do not itemize can deduct an additional $300 of cash, per taxpayer, in annual charitable deductions. These donations will reduce adjusted gross income, thereby reducing taxable income. For those who itemize deductions, you can now deduct donations up to 100% (previously it was 60%) of your 2020 annual gross income.*
In addition to supporting Maranatha’s operating budget, this year the Maranatha Fund is also helping to support increased needs due to Covid-19. This includes additional tuition assistance for families impacted financially by the pandemic, new technology purchased to ensure excellent synchronous and asynchronous learning, and personal protective/sanitizing equipment to ensure a safe campus when students return to in-person learning.
Families making a gift of $40 or more receive a special Minuteman t-shirt their student can wear on the first Friday of every month. Please consider taking advantage of this year’s special charitable tax incentives and make your Maranatha Fund gift today. Simply return the donation envelope you received in the mail, or CLICK HERE to donate online.
*Please consult your tax advisor concerning the application of tax laws to your particular situation.