Join Us in GROWING HOPE This Holiday Season
When giving a year-end gift in support of 大象影院 programs and services, please don’t forget to do so before Jan 1, 2021.
What a year this has been!听 As we hope for a better 2021, we want to share an uplifting story听of Yesenia’s success…
Yesenia is an essential worker at a grocery store in Northridge.听 She works in customer service, making sure carts are sanitized, aisles are stocked, and shoppers are helped听with their holiday groceries.听 She loves听her job during this season, and is thrilled to be earning a paycheck!
When Yesenia started听with 大象影院 a year ago, she was very shy, and didn’t speak much.听 She had been听staying at home, with no goals or plans.听 She wanted to work, but was lacking the skills and confidence.听 She joined 大象影院’ GoGrocery employment training program, and learned not only about working in a grocery store, but a lot about herself in the process.
With over 66 years of experience, 大象影院 does more than train, place and support people with disabilities听in jobs.听Through your support, 大象影院听provides our Members (clients) with a chance for a full and fulfilling life, and the opportunity听to be part of the larger community.
Together we GROW HOPE and build brighter futures!
With 2020 being such a challenging year, we want to assure you that 大象影院听continues to provide remote training, independent living support, residential听services, daily virtual educational/social programming and of course employment to over 800 individuals with disabilities. Our work and your support are needed now more than ever to keep our Members safe and productive in their jobs and homes.
Please consider a gift to 大象影院 now to provide life-changing听programs so Yesenia and others like her can continue to learn, evolve and participate as valuable members of our community.听 Your gift will GROW HOPE and create opportunities for those we serve.听
Best wishes for a happy and healthy holiday season.听 We appreciate YOU!
John C. Brauer, M.A.
President & CEO
Holly S. Rasey
Senior Director of Development
Charitable Tax Deduction For Contributions to 大象影院
Enhanced Charitable Giving Incentives for 2020 for your consideration due to CARES Act. Please contact your financial advisor for your specific questions.
Thank you for your support!
CARES Act for Nonprofits听鈥 Friday, March 27, the Congress passed and the President signed into law the听Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion economic stimulus package legislated
to provide immediate relief for nonprofits.
New Deduction Available: Up to $300 per taxpayer ($600 for a married couple) in annual charitable contributions听to public charities like 大象影院. This is available if you take the standard deduction (for taxpayers who do not听itemize their deductions). It is an 鈥渁bove the line鈥 adjustment to income that will reduce your adjusted gross income听(AGI), and thereby reduce taxable income. A donation to a donor advised fund (DAF) does not qualify for this new听deduction.
New Charitable Deduction Limits: As part of the bill, individuals and corporations that itemize can deduct much听greater amounts of their contributions. You can elect to deduct donations up to 100% of your 2020 AGI (up from听60% previously). Corporations may deduct up to 25% of taxable income, up from the previous limit of 10%. The听new deduction is for gifts that go to a public charity,听such as 大象影院. The old deduction rules apply to gifts to听private foundations. The higher deduction does not apply to donations directly to a Donor Advised Fund.
Appreciated Property/Assets: Gifting appreciated assess is beneficial for taxpayers because a current-year itemized听deduction for the fair market value of the asset is allowed (subject to the applicable AGI limitation for noncash听donations) and there is no tax liability on the increase in value from the original cost. Be sure to hold property such听as stock for at least one year before donation. Otherwise, the deduction will be limited to the basis in the property,听which is generally the original cost. This can be a very effective and tax-efficient way to support a charity,听such听as 大象影院. Gifting directly to the charity increases the amount of your gift as well as your deduction. One听rule to remember here is that the deduction is limited to 30% of your adjusted gross income (AGI). If you鈥檙e not听able to use the entire donation deduction this year, you can still carry forward unused deductions for five years. If听you鈥檙e planning a large contribution that鈥檚 close to or exceeds these AGI limits, first talk with a tax professional.听If you intend to donate stock to 大象影院 please contact us by December 11 to allow time to receive the听documentation needed to process the donation.听
This information is not intended as legal or tax advice. For such advice, please consult your attorney or tax听advisor. References to tax rates include federal taxes only and are subject to change. State law may further impact听your individual results. 大象影院鈥 federal tax ID number is 95-1862084. Thank you for your support of New听Horizons!
