A TIME-BOUND CHALLENGE:
Immigrants and asylum seekers are being heartlessly challenged by the U.S. government.
Now, here's a challenge for you: Contribute in support of our immigrant friends.
Your gift received now through Chanukah 5781 / 2020 will be matched
up to $25,000 by the CBST Jonathan David Grindell Memorial Fund for Social Justice.
Read about CBST's Immigration Clinic
The CARES Act ...Did you know:
In response to the COVID-19 pandemic, Congress passed the CARES Act last March. The Act provides significant and unique tax benefits for charitable giving in 2020*.
The CARES Act eliminates the limit on the federal charitable income tax deduction for certain kinds of gifts made in 2020. This year only, taxpayers who donate cash to a public charity may take a federal charitable income tax deduction equal to as much as 100% of their adjusted gross income (AGI). In prior years the federal charitable income tax deduction for cash gifts to charity was capped at 60% of AGI.
- For those who have substantial cash assets that you intend to provide to charity, this is the year to donate.
- There are limitations to the charitable deduction 100% of AGI rule: the increased deduction limit applies only to cash gifts and not to gifts of appreciated securities or other property. It also applies only to gifts to charities (including CBST), and does not include contributions to Donor Advised Funds or Private Foundations.
- Charitable gifts from IRAs traditionally have also been subject to the contribution limit, except for gifts up to $100,000 a year made directly from an IRA by individuals over 70 ½. For 2020, individuals over 59 ½ can withdraw unlimited amounts from their IRAs, donate and take a full offsetting deduction, thereby avoiding any tax on the distribution.
- If you are planning to leave your IRA to charity, you can use this deduction to donate from your IRA now and have an immediate impact on meeting our community’s needs
- Giving to charity through your IRA may be even more beneficial because the SECURE Act (passed in 2019) severely limits one of the benefits of passing an IRA to your children. Rather than allowing the children to extend tax-free growth and taxable distributions over their lifetimes, they now must distribute the IRA in full over ten years.
- As you reflect on these changes and make decisions regarding your charitable giving, please consider support for CBST as we strengthen our community.
*All tax-related decisions should be made in consideration of your personal situation and in consultation with your tax advisors.
Questions? Contact Gina Schmeling at email@example.com.
Ready to Become a CBST Member ?
Did you know....?
Each Friday night, you can SPONSOR the LIVESTREAM / ZOOM in memory or in honor of a special person or occasion. This is a beautiful way to make CBST's services accessible to all. A gift of any amount is greatly appreciated. Tribute contributions of $50 or more will be acknowledged in the upcoming Shabbat Program.
Be in touch with any questions or concerns:
firstname.lastname@example.org 212-929-9498 x 814
We are deeply grateful for and proud of the support from the following organizations and foundations (list in formation):
Callen-Lorde Community Health Center
CLAL-The National Jewish Center for Learning and Leadership, Inc
Duboier Young Men's Progressive Association
Fort Washington Collegiate Church
New York Jewish Community's Deaf Interpreter Fund
NYC Council Discretionary Funding for Faith Based Initiatives
Richard and Rhoda Goldman Fund
SAGE: Senior Action In A Gay Environment Inc.
The Jewish Education Project
UJA-Federation of New York
Union for Reform Judaism
American Endowment Foundation Lehrer-Seller Family Fund
Atran Foundation Inc
The Calamus Foundation
Irma L. and Abram S. Croll Charitable Trust
Elias A. Cohen Foundation, Inc
F.B. Heron Foundation
Grace R. Marcus & Alan D. Marcus Foundation
H. van Ameringen Foundation
The Horace W. Goldsmith Foundation
Irving Harris Foundation
Kaplan Family Foundation
Krouse Family Foundation, Inc
Milton and Tamar Maltz Family Foundation
Metzner Family Foundation
National Gay Lesbian Task Force Foundation
Open Society Foundation
Sagner Family Foundation
The Fan Fox and Leslie R. Samuels Foundation
The Moriah Fund