Each gift to the Lourdes Fund fosters a family environment in which students can achieve academic excellence, develop strong moral character, live as authentically Catholic disciples, and contribute positively to their communities. We are grateful for your gift. (Scroll down to donate.)
YOUR GIFT WILL BE MATCHED
Thank you to our challenge gift donors.
Alumni Match - $10,000
Anonymous Donor - Class of '63
Family & Donor Match - $10,000
Dr. & Mrs. Ben & Nina Heinzen
CARES Act & Charitable Giving
The Coronavirus Aid, Relief and Economic Security (CARES) Act, signed into law in March 2020, is designed to help address the impacts of COVID-19. The bill provides increased tax incentives for charitable giving. This means that you can continue to support your favorite charities while receiving tax benefits. See your tax advisor for more information.
The adjusted gross income (AGI) limit for cash contributions was increased for individual donors from 60 percent to 100 percent. For cash contributions made in 2020, you can now deduct up to 100 percent of your AGI.
The AGI limit for cash contributions for corporate donors increased from 10 percent to 25 percent.
Not Itemizing Deductions
The CARES Act allows for an additional, “above-the-line” deduction for charitable gifts made in cash of up to $300. If you are not itemizing on your 2020 taxes, you can claim this new deduction.
Donor Advised Funds/Giving Accounts
You are still able to deduct up to 60 percent AGI in cash and up to 30 percent AGI in appreciated assets contributed to a donor-advised fund. Existing carry-over rules still apply, so if your donations in 2020 exceed your AGI deduction limits, you may carry forward excess deductions for up to five subsequent tax years. As always, donors should consult with their tax and legal advisors when considering their charitable giving.
IRA Qualified Charitable Distributions (QCD)
The CARES Act did not change the rules around the Qualified Charitable Distributions (QCD), which allows individuals over 70½ years old to donate up to $100,000 in IRA assets directly to charity1 annually, without taking the distribution into taxable income.
However, under the CARES Act, an individual can elect to deduct 100 percent of their AGI for cash charitable contributions. This effectively affords individuals over 59½ years old the benefits similar to a QCD; they can take a cash distribution from their IRA, contribute the cash to charity, and may completely offset tax attributable to the distribution by taking a charitable deduction in an amount up to 100 percent of their AGI for the tax year.
Information abridged from FidelityCharitable.org.
Make your gift go even further.
- Make your gift recurring. Recurring gifts provide Lourdes with consistent revenue that further supports our mission and provides valuable resources to keep our system running smoothly. Simply check to monthly gift option on the adjacent form.
- Match your gift. Does your employer offer a matching gift program? Matching gifts are an easy way to double your impact and support Lourdes even more. Inquire with your employer today.
- Includes Lourdes in your planned giving with a gift to the Lourdes Foundation. The Lourdes Academy Foundation manages several endowments that provide long-term funding for tuition assistance, faith formation, facilities upkeep and teacher salaries, to name a few. Become a member of the "Our Lady of Lourdes Legacy Society," or donate to a Leave a Legacy fund. Learn more HERE.