What You Should Know About The CARES Act’s Charitable Giving Provisions

19 May


Universal Charitable Deduction

The CARES package includes a temporary universal charitable deduction. This deduction will allow all taxpayers to claim an above the line charitable deduction for cash donations up to $300 through December 31. Donations to donor advised funds and supporting organizations are not eligible for this deduction.


Adjusted Gross Income Limitation

The law also lifts the cap on annual deductions for cash contributions for those who itemize, raising the cap from 60% to 100% of adjusted gross income. The cap for corporations has been increased from 10% to 25%. For food donations, the corporate cap has been increased from 15% to 25%.


What this Means for You

Kids need your help now more than ever. For many, the Clubs are a source of stability, consistency, and fun for kids and teens. We are providing meals, virtual homework help, mentorship, academic enrichment activities and the chance to (virtually) have fun with friends and trusted mentors. When our Clubs reopen for summer camp, we’ll be a safe place for children of essential workers and first responders.

Your gift helps us maintain and grow these programs. And with these new tax incentives, there has never been a better time to support your Boys & Girls Clubs of Middle Tennessee.


Consider a monthly $25 donation to maximize your impact.



 Information provided above does not substitute for the advice of your tax advisor or attorney. Please see your tax advisor or attorney for full advice on implications of the CARES Act.